• Sra. Marcela C. V. will use her loan to buy thread and napkins to embroider and sell.
• Sra. Beda Vázquez C. will buy thread, ribbons, and gift items to restock her sewing supply shop.
• Sra. Ambrosia Meléndez Z. will buy soap, eggs, milk, sugar, and other products to stock her store.
• Sra. Yolanda Milán R. will buy all types of candy to sell.
• Sra. Alicia Vázquez Campose will buy cornmeal, cheese, cream, vegetables, and other items for preparing and selling her dishes.
• Sra. Yadira C. Milán will buy dyes and scissors for her beauty salon.
• Sra. María Luisa C. Ríos will buy rice, vegetables, and meats for selling food in her establishment.
• Sra. Cira P. Sánchez will buy trousers, skirts, and other items to restock her business.
Sra. Yadira C. Milán is a member of this group. She is 21 years old and obtained her diploma after completing three years of high school. Yadira is married, pregnant, and will be having her first child very soon. She has a beauty parlor as well as a business selling food. The loan she is requesting will be used for both businesses. She plans to buy liquid foundation, dyes, manicure supplies, soft drinks, meats, vegetables, condiments, and gas. Since she is pregnant, Yadira has chosen not to work in her beauty salon at the moment because of the chemical fumes that could harm her baby. She currently offers quick breads, snacks, sandwiches, stews, stuffed corn cakes, and soft drinks. Her mother-in-law started this business ten years ago and left it to her so that she could vacation in the United States. When she began working with her mother-in-law, Yadira learned how to prepare the food. Her business is located on the outskirts of Jaloxtoc. She lives in the central part of town, so she must take public transportation in order to get to her business. The business is important and special to Yadira because it keeps her busy and enables her to support herself. Her favorite part of the business is making the tortillas, the quick breads, and the snacks. She is proud of seeing her customers enjoy the food for its flavor as well as the tortillas. Her customers include neighbors, teachers, students, and out-of-town visitors. The business is popular since her mother-in-law knows many people. The challenges to her business are the dusty climate, the high cost of electricity, and competition from similar businesses. Her business profits are reinvested in vegetables and meats.
Sra. Yadira is planning to expand her business by introducing candies and pork. She believes she will be able to save up enough money to buy the candy. Her business has helped improve her family’s quality of life and prevented them from lacking anything. What she wants most is to build a house and have a space all to herself since she currently lives with her mother-in-law. Her hopes and plans include expanding her business, moving forward, and improving her home. Yadira is happy with this loan since it has given her the opportunity to invest in her business and continue growing.
The members of the group would like to say to Kiva and Fundación Realidad, “We are grateful for the opportunity given to us to move forward in our businesses and hope to continue having your support.”
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