Señorita Maribel is 27 years old, single and without children. She has a hardware store in the centre of the community. She is asking for a loan to buy cable, pvc, nails, screws, electrical material and cleaning products. She started the business 2 years ago. She used to work in the capital with her uncles who had a hardware store and decided to set up her own hardware store in her own community. Her business is very important as it a means of independence and having her own business. She is proud of her business which was born of her hard work. She worked for a long time and now she has her own business. Her customers are bricklayers, blacksmiths, housewives, students. She uses the profits to reinvest in merchandise. She is happy with the loan she is going to receive as it is an opportunity to expand her business. Her dreams and hope is to have a family and help her parents any way she can. The members of the group want to say to Kiva and the Fundacion Realidad: "Thanks to you we can start or improve our businesses. Continue helping more people who ask for help."
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