In the group is Elizabeth. She sells costume jewelry that she makes herself. She’s been in this business for over two years. She is 22 years old, married and has a beautiful little girl. She tells us that when she met her husband he made necklaces, bracelets and rings and when they got married and their expenses grew she decided to help with household expenses and they started selling throughout the town’s neighborhoods.
She wants the loan to buy more jewelry making supplies to continue working alongside her husband while caring for her daughter. Her great dream is that her daughter becomes un upstanding woman and that some day they will have a better quality of life despite her only having gone to secondary school. She’d like her daughter to be a professional and that her business continues having the success it’s attained to this day.
We note that an extra person appears in the photo because Inés’ sister wanted to be in the photo.
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