Francisca is 54 years old, is married and has 5 adult children, one woman and four men who all work. She does catalog sales of sheets, bedspreads, bed covers, and towels. She began her business three years ago when her sister invited her. She brings her merchandise from the capital city and offers it to her friends, neighbors, and coworkers (police officers). She also works in a kitchen and prepares food for the officers.
She chose this work because she likes to cook and serve people. Her sale of bedspreads, sheets, and bed covers provides extra income so that she can buy things for the home. Her plans are to open her own kitchen to provide low cost meals. Since a new market is being built in her community, she will request a spot from the manager. Her dreams and aspirations are to build the second story in her home and to save for her later years. She would like the best for her children; for them to have steady jobs, and for them to want for nothing.
The members of the group would like to tell Kiva and Fundación Realidad, “Thank you for the help you have given us and that you continue to help us. May God give you the strength, health, and life to continue helping people.”
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