Santiago Group

The group “Santiago” are represented by Victoria and is composed of 15 members of which 3 are men and 12 are women. They sell CDs, new and second hand clothing, food, shoes and mobile phone accessories. Most of the members open their stores at 6 in the morning and close at 8 at night. Due to the competition in the market, they have to double their efforts to obtain more income as each one of the members represents the breadwinner of their families.

This loan will develop their businesses through the purchase of merchandise, raw materials and tools to increase their earnings, which will enable them to give their families a better quality of life. In regards to their loan experience, the members already have experience in solidarity groups, and though this is their first loan, thanks to loans made through similar institutions to Fundación Agrocapital they are ready and willing to keep their small businesses going as their families depend on them.

Translated from Spanish by Suzanne Grasso, Kiva Volunteer

El grupo “Santiago” están representados por la señora Victoria y conformado por 15 miembros de los cuales 3 son varones y 12 mujeres, ellos se dedican a la venta de CDs, ropa nueva y usada, venta de comida, zapatos y accesorios para celulares; una gran parte de los socios realiza la apertura de su negocios a la 6:00 de la mañana y cierran a las 8:00 de la noche debido a la competencia que existe en el mercado, debiendo realizar el doble de esfuerzo para conseguir mas ingreso ya que cada uno de las socias representa el pilar del sustento de sus familias. El crédito esta destinado al crecimiento de sus negocios con la compra de mercaderías, insumos y herramientas para mejorar más sus ingresos que les permitirá darles a sus familias una mejor calidad de vida. En cuanto a la experiencia crediticia las socias ya cuentan con experiencia en grupos solidarios pese a que es su primer ciclo gracias a créditos en instituciones similares a la Fundación Agrocapital y están dispuestas a sacar adelante a sus pequeños negocios ya que de ello dependen sus familias.


About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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