Las Bendecidas Group
Amparo C. P. (group president) has a cosmetics sales business. Thanks to her efforts, she continues to move forward in her work day to day. She has two children and is separated from her husband. Because of this, she overcomes obstacles in order to get her children ahead in life.
She’s a hard-working woman and has shown herself to be very responsible. She lives under the anticretico modality (a transaction not available in the U.S. whereby a property owner requests a "loan" from you in exchange for housing, which must be paid back to you at the end of your contract. If your loan is not repaid, the property owner loses the property to you) and dreams with having her own home for her and her two children. Amparo is making a great effort to reach this goal. She will use the funds as working capital to continue growing in her business.
All the members of this group are multifaceted; they enjoy work very much. Some sell food; others sell groceries, chickens, soft-drinks and turnovers. Some sell milk, others vegetables. Some sell maja blanco (a sweet). In this case, competition is non-existent because they all have different businesses and they all do well because they go out to different points of sale both within the city and to its outskirts in order to sell their merchandise.
The funds will be used to increase their ingredients, supplies and products in order to generate better income and meet customer demand.
The members already have quite a bit of experience in the field of group loans. This is an established, very good group. They completed their first loan cycle well with us and, to date, continue to prove themselves as being very hard-working and responsible people. The institution, therefore, grants new economic support to them so that they may continue to succeed and provide their families with a better quality of life.
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