El Milagro Group
Isabel engages in traD. and has eight years of experience. She has a store where she sells daily consumer products. Having enthusiasm and the desire to succeed, she decided to organize a group in order to apply for a loan. The Communal Bank is called “El Milagro” (The Miracle), a name that was selected by all of the members. The group consists of ten women who are involved in different business activities which incluD. raising animals, providing services, and selling daily consumer products and traditional clothing.
This loan will be used to increase the inventory of products for her business so that she can generate more income. With this she hopes to improve the living conditions for her family.
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