San Antonio Group
Virgina is 51 years old and studied until the second year of primary school. She is married and has seven children, five of whom are grown up and working. Her two younger children are a 15 year-old boy who is in secondary school and a 9 year-old girl who attends primary school. Virginia sells steak, sausage and tripe tacos. She is requesting a loan to buy one burner, soft drinks, and vegetables and meat to prepare her tacos. She will also use part to install a floor where she sells her tacos.
Virginia started her business 25 years ago because, with her husband out of work and her children still young, she lacked the necessary economic resources. She obtained a loan with her brother-in-law to put into her business and started to sell her tacos. Her business is important because it brings in profits when she's selling well. Virginia remembers once when her granddaughter was sick and she came up with 500 pesos to bring her to the doctor and to pay for her medicines. It was the profits from her business that made it possible for Virginia to pay.
She feels proud that the families who are her customers prefer her business and is proud when they say that her tacos are delicious. She reinvests her profits to buy ingredients to continue selling. Her daughter and her husband help her with the business, preparing and selling the tacos. Virginia's hopes and dreams are to make her business larger and for her youngest children to reach professional careers. She is happy to receive this loan because it's not just anywhere that you find people who help others unselfishly.
The members of this group would like to tell Kiva and Fundación Realidad: "Thank you very much for having confidence in us. We will not fail you, so that you will continue helping more people with their businesses and families."
Mr. José Socorro is missing in the photograph above.
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