Union Familia Group
She is married and has two children. Her husband is a bricklayer, and he helps her with some of the household expenses. Because this is not enough, she needs to work for her children’s food and education. Her children are school-age. That is how they got the name of the group. The family makes any small business big. Elsa Miriam’s greatest hope is that her children become professionals and to see them develop enough so that they have a better future.
The rest of the members sell wholesale CDs, beer, clothes, and plastics. Some provide plumbing and transportation services. There is plenty of competition in the market, but they get ahead by quickly changing and stocking their merchandise. That way they get the necessary income to support their families.
The current loan will be used as operating capital to get merchandise, supplies, and materials to increase their sales and improve their families’ quality of life. The group is currently in their fourth cycle. They always demonstrate competence, responsibility, and commitment to their group. Many of the small business have grown. For example, Elsa Miriam now has her cart for selling choripanes. She can give her customers better service. Now she wants to start selling another type of food. That is the reason she needs the loan.
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