Loma Buenavista Group
The nine members of this group live near one another. They are neighbors and have known each other for many years. One of the members of the group tells us her story about the loan that she has requested. The lady's name is Maria Cristina and she tells us the following: "I own a small grocery store. I don't sell much because my business doesn't have electricity and so when it starts to get dark I have to close because you can't see anything. I would like to install a display case so that I can buy cold cuts such as ham and sausages, and also cream and cheese, but I can't because I don't have any electricity. This loan will help me a lot because I will make more income and instead of going backwards in my business, I will move forwards. I hope to move ahead with my store and I hope that we will earn more than we do right now. Right now we don't make much profit but I am planning to gradually add more merchandise so that I can make better sales. I have a young daughter who doesn't go to school yet. I have been married for 2 years and I live in my mother-in-law's home. My husband is an office worker in the town's administrative center".
Maria Cristina and the other members of her group would like to thank FRAC and KIVA for placing their trust in them and supporting them.
Ella y los demás integrantes del grupo dan las gracias a FRAC y KIVA por brindarles su confianza y apoyo.
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