Cruz P. Sánchez who will use the loan to buy cosmetics, lipsticks, eye shadows, perfumes, etc. to fill her pending orders.
Margarita B. G., who will buy soap, soft drinks, soups, sugar, cooking oil and eggs to stock her store.
Maribel C. Sánchez, who will buy shoes for ladies, men, children and infants to fill her orders.
Luisa V. Sánchez, who will buy vegetables like red and green tomatoes and chilies to start her vegetable sales business.
Felipa Sánchez Pérez, who will buy cream-based popsicles to start her popsicle business.
They would like to say to Kiva and Fundación Realidad: “Thanks to the existence of these programs that help us so that we can continue forward and work in our businesses; they help us progress and live better.”
Mrs. Margarita B. G. is a member of the Huitzililla group. She is 38 years old, lives in common law union with her husband who is a field day laborer. She finished 5th grade. She has three children, a boy and two girls. Santiago is 21 and works in Cuautla in a shoe store. Arisbeth, 16, is in school and works in a natural products store. Lorenza, 12, is in school.
Margarita has a grocery store and also sells Jafra brand catalogue products. She asked for the loan to buy soap, soft drinks, candies, soups, cooking oil, sugar and eggs to stock her store. The store is called “Abarrotes Peña” and it was passed down to her by her in-laws. She started the business two years ago when she still had her mother-in-law. She has since passed away and left the store to her and she tends to it now. She offers her customers, who are her neighbors, beverages, candies, Sabritas (brand of snacks), Gamesa (cracker and cookie brand), Marinela (packaged pastry brand) and Jafra catalogue products. The store is in her home. Her son Santiago helps out on Sundays.
She considers her store to be important because it provides benefits for her family; it has helped her provide her children’s education. She enjoys taking care of her customers and feels proud to produce family income for any emergency and not having to seek out someone to get a loan from. She uses profits for household expenses and to buy more merchandise.
She faces competition from two other stores near hers. Her plans and hopes are to continue in business and to sell more. Her hopes for her children are that they continue to study and be in good health. She hopes to reach these goals by working hard at sales so that the business grows.
Margarita likes the town of Huitzililla because that’s where she was born and where she lives. They plant onions in irrigated fields and corn and sorghum seasonally.
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