With her enthusiasm, desire to get ahead, and the help of some of her neighbors and friends from an agricultural program, they formed a group so that they could apply for this loan. The name of their communal bank is “AMISTAD” (Friendship), and they decided on this name together. It is maD. up of 19 ladies who are involved in various business activities; among them are livestock, frozen treat sales, daily consumables, and clothing.
She will use the money from this loan to buy hogs so that she can increase her production and income. Her dream is to increase her production, but has not had the money to invest. This loan will allow her the opportunity to grow her business and her income, and help with her personal development and, most importantly, that of 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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