Las Rosas Group
Their Communal Bank is called “Las Rosas” (The Roses) and consists of 12 members. Consuelo is the group leader and will use her loan to buy raw materials. This will enable her to increase her sales and generate more earnings. As a result, she will be able to improve her living conditions and contribute toward the development of society.
El Banco Comunal se llama Las Rosas, cuenta con 12 integrantes. La líder del grupo Consuelo utilizara el préstamo para compra D. materia prima, y así podra incrementar las ventas y aumentar las ganancias que será muy beneficioso para ella mejorando sus condiciones D. vida, D. esta forma contribuye al desarrollo D. nuestra sociedad.
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