La Asuncion Group
Raquel Yolanda is 39 years old. She lives together with her common-law husband and has four children who are all in school. She makes traditional, regional sweet treats such as 'palanquetas', 'alegrías', peanut, tamarind and 'jamoncillo'. She requested her loan to buy peanuts, brown sugar, cereal, sugar and honey so that she can have a better stock of supplies available with which to work. Raquel Yolanda started her business 15 years ago. In her town, everybody makes sweet treats and she was taught by her parents. She started out with loans from the suppliers from whom she bought her merchandise. She sells her sweet treats in the markets in the villages with pilgrims and visitors. Her business is important. She enjoys making her sweet treats and hopes to gain more of the market. Her business provides her with the income she needs to cover all her needs. The challenges that she faces in her business are the high prices of sugar and peanuts. She is happy to be receiving this loan which she will use to buy raw materials so that she can continue working. Her hopes and dreams are to grow her business and for her children to continue studying and achieve the goals they set for themselves. The members of this group thank Kiva and Fundación Realidad for their loans because thanks to their help, they are able to grow their businesses.
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