María is 33 years old, married, and has 5 children. She tells us that it has been very difficult to get her children ahead in life because the wage that her husband earns as a construction worker doesn't cover all their household expenses. Sometimes he has no work which has made it difficult to achieve financial stability since sources of work are very scarce in their town. For this reason, María decided to set up a small store in her home in order to support her husband with their expenses. She will invest her loan in buying more merchandise. Her wish is for her children to continue in their studies and for them to become good professionals some day. This was something that she could not achieve for herself but an opportunity that she would really like to offer 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