Chivas De Corazon Group
The group is comprised of ten members, one of whom is Lorena Báez. Four years ago, she started a business selling clothing. She is requesting this loan to buy more garments. She is 36 years old, studied through the third year of secondary school, is single, and does not have any children. Her customers like her business because they tend to find what they need.
As she requests this loan, she feels content because this loan will make it possible for her to buy merchandise to fill her customers' requests, and she will bring in more income. She will use the additional earnings to buy a cupboard she needs for her business. She also hopes that her business will grow so that when she gets married and has children, it will be possible to send them to school and to dedicate time to them at home.
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