Doña Rosa would like to use her portion of the group´s loan to purchase more materials in order to weave more sweaters for sale in her community. Rosa has 8 years of experience with her business and would love to one day make and sell a wiD. variety of garments and always have plenty of materials on-hand to meet demand. She started her business with some help from her brother and the support of her group members.
The other members of the Superaciòn Group work in clothing making, native garment sales, animal raising and selling, and pottery making and selling. This is the second loan through ASDIR for this group of women. The previous loan was paid back ahead of schedule with no problem.
About Asociación ASDIRASDIR (Asociación de Desarrollo Integral Rural - Association for the Development of Rural Communities) is a community-based organization that works to promote development in the villages and communities where it serves. It was founded in 1999 in the village of Nimasac, Totonicapán Department, by a handful of local men and women to support community projects and group loans. Today ASDIR has 5 offices across 3 departments (Totonicapán, Sololá and Suchitepéquez) serving more than 6,000 clients, most of them in rural communities.
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