The “Rosales” (Rosebush) Communal Bank is named that way because the owner of the house where they meet has many rosebushes which they really like a lot. The bank is located in Morelos, México where the community is well known because the majority of its inhabitants are in agriculture mainly growing corn, onions, green beans and sugar cane. The group is made up of 8 people, one of them is Mrs. Julia, she is 53 years old and only attended primary school, and she is a housewife and has been in sales for 4 years. She sells clothing and says that thanks to her business she has been able to get ahead as it is her main source of income. The loan will be used to buy clothing, to have a greater variety for the tastes of her customers as well as seasonal clothing. Mrs. Julia hopes to keep seeing her business grow by investing in it to make it grow each day and be known by all of the residents in the town. With her earnings, Mrs. Julia supports her family as well as their expenses so that they can have a better quality of life.
El grupo se llama "Rosales" porque la dueña de la casa donde se reunen tiene muchos rosales los cuales les gustan mucho, esta ubicada en Morelos, México, la comunidad se caracteriza porque la mayoría de sus habitantes se dedica a la agricultura, cultivan elote, cebollas, ejote y caña de azúcar. El grupo esta integrado por 8 personas una de ellas es la señora Julia, tiene 53 años, estudio solo la primaria, es ama de casa y comerciante desde hace 4 años, ella se dedica a la venta de ropa, nos comenta que gracias a su negocio ha salido adelante y es la principal fuente de sus ingresos. El prestamo lo invertirá en ropa para tener más variedad y para el gusto de todos sus clientes así como ropa de temporada. La señora tiene la ilusión de seguir continuar haciendo crecer su negocio invirtiendo para hacerlo crecer cada día más grande y ser reconocida por todos los habitantes del pueblo. Con las ganancias apoya a su familia en los gastos familiares y así tener una mejor calidad de vida.
This 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.