El Polvorin Group
Reyna belongs to a credit group called “El Polvorín” (Powder Keg). She comments that they chose that name because that’s what their neighborhood is called. She is a very hardworking, very active woman. She’s had a grocery store for the last six years. She says she started this business in order to be able to be more watchful of her children.
She is asking the financial agency for a loan to buy stock merchandise for her store like: sugar, soap, milk, coffee, eggs, rice and basic need items. She goes to a nearby town to stock up on goods at a supermarket there where prices are lower and she can then earn a bit of profit.
Reyna’s goal is to build a space later on out of cement because she currently keeps her products in a little wooden room. She’d like to start to save up and have her business very well stocked because this is a very important source of employment for her.
The other nine group members are: Catalina, María Guadalupe, Diana Martina, Rosa María, María Isabel, Adela, Ana Luisa, Ygnacia and Gabriel. They will use the loan they are getting in various businesses like: fruit and vegetable stand, women’s catalogue clothing sales, candy stand and a flower shop.
Los otros nueve integrantes se llaman Catalina, María Guadalupe, Diana Martina, Rosa María, María Isabel, Adela, Ana Luisa, Ygnacia y Gabriel ellos invertirán su crédito que les están otorgando en diferentes negocios como en puesto de frutas y legumbres, en ropa para dama por catalogo, puesto de dulces, en una florería.
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