Grupo Sicalbe 2 Group
The water they use comes from the Momostenango mountains. They live in the small village of Xeqeumayá. Currently they depend on the Micro-irrigation system but lack the funding due to scarce economic resources. This is the first time they request a loan from ASDIR. According to the study undertaken, the financial activities of the borrowers and the land they use for planting tomatoes, were verified. This is why they consider this the right time to increase their funds. This will help build up their crops to earn more, improve their standards of living, and sell their product at a lower price than the local market.
About Asociación ASDIRASDIR (Asociación de Desarrollo Integral Rural - Association for the Development of Rural Communities) is a community-based organization that works to promote development in the villages and communities where it serves. It was founded in 1999 in the village of Nimasac, Totonicapán Department, by a handful of local men and women to support community projects and group loans. Today ASDIR has 5 offices across 3 departments (Totonicapán, Sololá and Suchitepéquez) serving more than 6,000 clients, most of them in rural communities.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid