El Bonete Group
María, 32, is one of the group members. She completed 9th graD., is a merchant, and has three children (two girls and one boy). She sells bedspreads and cosmetics, a business she started three years ago because what her husband earned was insufficient to cover all the family’s expenses.
At the moment of requesting the loan she is happy because she’ll have more products to offer her customers and she’ll be able to get them at better prices. She wants to use the loan to buy cosmetics, creams, perfume and bedspreads.
She intends to use part of the profits to buy her children’s school uniforms for the upcoming term and she will save part of it so that she can continue to buy merchandise and not feel pressured when she receives her daily orders. She wants to continue to proviD. education for her children so that they will make their dreams a reality and she also wants to help her husband with household expenses and to have a better quality of life.
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