Milagros De Mozoquilpan Group
Gregoria S. is the group's president. She is 56 years old, married, and didn't attend school. She is a saleswoman and has 4 children (2 daughters and 2 sons). Gregoria has a grocery store which she set up one year ago with 9 years' worth of savings which she had managed to put aside from the profits she'd made selling hand-made tortillas. This business also allowed her to provide two of her children with professional-level studies. She comments that thanks to the fact that she has the support of loans, she has been able to invest in buying merchandise for her store and, with the profits, she has been able to save up to build her own premises. She would now like to be able to save for her old age because she plans to be independent and not have to bother her children.
About CrediComunThis 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.
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Success!! The loan was 100% repaid