Perlas Del 5 De Mayo Group
Josefina is 63 years old and only attended elementary school. She is married and has seven grown-up children: four sons and three daughters. She tells us that she has been in business for twenty years. She started out selling food from premises that she owns. Then she worked as a butcher for 10 years. She currently sells cosmetics through a catalog so that she can spend more time at home with her children and because her uncle is sick and there is nobody else who can take care of him. Josefina says that this loan will help her to stock up with products and invest in merchandise. This will make more income for her family. She believes that she is being provided an opportunity to get ahead and make progress in her business. With her loan, she has been able to support her children and help with her uncle's illness. Her plans for the future are to re-open her sales premises and sell more products so that she can make better income.
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