El Cedral Group
Señora Lucia is 29 years old. She attended school up to the third year of secondary school. She is married. Her husband works in the fields, and when there is no work in the fields, he works as an assistant to a bricklayer. They do not have children. She has a beauty salon. She is applying for the loan to buy electric clippers for haircutting, a dryer, an iron, and various liquids and dyes for hair. She began her business a year ago. She learned in a course from the municipality that she took nearby. She began with a few things with her savings from selling tlacoyos (a Mexican snack). Every day she went out to sell her tlacoyos of fava beans, cheese curds, and kidney beans in the center of the community where she lives. Her business is important because she likes what she does and it generates income for her. She feels proud when she dyes hair, curls it, or does hairdos and the customer likes the result. Her clients are relatives, friends, and neighbors from the community. She is planning to expand her business and to buy all the supplies, furniture and materials necessary for her work, to give her customers better comfort and the services that they request. She thinks she will succeed by making an effort and saving, and with the loan she is going to stock up on all the materials. She will use the earnings for household expenses and to reinvest in her business. She is happy to be receiving the loan because she is going to acquire some products that she needs in her salon.
The members of the group want to say to Kiva and to Fundación Realidad, "We are very grateful to you and happy that you can help us. May you continue helping more people. With your loans we can grow our businesses and our families."
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