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Bicentenario Dos Group
In this Group: Patricia, Maria De La Luz, Karina Daniela, Maria Angelica, Yolanda, Margarita, Araceli, Catalina Maria Guadalupe, Magdalena, Nely, Alicia
The loan group is called Bicentennial 2, named because of this year's festivities (200th anniversary of Mexican independence) and because its members are very patriotic. It is located in Lazaro Cardenas in the State of Mexico. The group has 11 members.

Magdalena F. G. is a member of the group. She is 64 years old and didn't go to school. She has been selling wooden handicrafts for 3 years and has a son. She requests a loan to invest in more merchandise, because the handicrafts she sells are very sought after in her community. Her clients are her neighbours and the people her clients recommend her to. She is happy and excited about the loan, which she wants to develop her business and her sales. She also hopes that the profits will allow her to stay solvent and support her family, since she is quite old and only has her business to support herself and meet their needs.
View original language description ↓
Este grupo se llama Bicentenario 2, por las festividades de este año y porque sus integrantes son muy patriotas. Está ubicado en Lázaro Cárdenas en el Estado de México. El grupo está conformado por 11 integrantes.

Magdalena F. García es integrante del grupo, tiene 64 años, no cuenta con estudios, es comerciante de artesanías de madera y tiene un hijo varón. Ella se dedica a la venta de artesanías de madera que inició hace 3 años. Solicita el préstamo para poder invertir en más mercancía ya que las artesanías que venden son muy solicitadas por su comunidad. Sus clientes son vecinas y recomendadas de sus clientas. Al momento de solicitar este préstamo se siente contenta e ilusionada. Quiere este crédito para hacer crecer su negocio y sus ventas. También espera que estas ganancias le permitan seguir solventándose y apoyar a su familia, ya que es una persona mayor y solo cuenta con su negocio para salir adelante y cubrir sus necesidades.

Additional Information

About CrediComun

This loan is administered by CrediComun, a Kiva Field Partner since February 2010. CrediComun is dedicated to providing loans to groups of women in rural areas in Mexico, and is beginning to lend to individuals as well. One of its newest branch offices is in Ciudad Neza, a poor suburb on the outskirts of Mexico City. CrediComun has grown rapidly since its inception in 2005, with 37 branch offices and over 350 employees, and was ranked the 12th best microfinance institution in Latin America in 2010 according to the Microfinance Information Exchange (MIX).

For more information on CrediComun, please visit its partner page. If you would like to support CrediComun and its borrowers, please visit its lending team.

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.

About Mexico

  • $11,249
    Average annual income
  • 3
    View loans »
    Mexico Loans Fundraising
  • $17,739,950
    Funds lent in using Kiva
  • 12.5
    Mexico Pesos (MXN) = $1 USD

Success!! The loan was 100% repaid

A portion of Bicentenario Dos Group's $3,225 loan helped a member to invest in her business.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 28, 2010
Listed
Sep 30, 2010
Currency Exchange Loss:
Covered
Ended:
Feb 15, 2011