Primavera Cruz Papal Group
Señora Cristina is married and has two children; her son attends high school and her daughter has already left home. Cristina runs a small business selling groceries and basic necessities. It is located in her home in the town of El Alto. She works there every day in order to earn money to support her son. They live in a small house which they own. Cristina hopes to expand the business gradually and to relocate to bigger premises so that she can continue helping her family to get ahead.
The rest of the group works at a variety of jobs such as selling food in the streets or from a stall; one woman sells supplies on credit, and another sells clothing also on credit. The group has a lot of business experience and is well-known for being knowledgeable. Although competition is very stiff, the group has both experience and regular customers who know their work and request their services. They are also enthusiastic about what they do since their income is vital for their families.
This loan will be used for working capital, to buy merchandise, supplies, and tools. The group hopes to expand their businesses and generate more income to buy their own homes, have more financial stability, and a better quality of life. The community bank already has a lot of experience with loans as this is their fifth loan. They have always been punctual with their repayments and shown themselves keen to make progress.
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