Mujeres Del Éxito Group
She always dreams with having a large business and with enthusiasm, desire to stand out and with help from some neighbors and fellow church members, the decision to form a group to request a loan was made.
The communal bank is called “MUJERES DEL ÉXITO (Women of Success). The name was chosen by all the members with the thought in mind that having their dreams come true and being successful in their businesses depends on each one of them.
The group has 10 female members who are in a variety of activities among which are: sale of typical costumes, sale of replacement parts, and teaching in neighboring villages.
Martha will use the loan as working capital to increase her profits. She considers that help from this loan will increase his business leading to better personal and family development.
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