Magdalena tells us that she has been working with Pro Mujer for five months and joined through an invitation from a promoter. She currently has a business selling fried empanadas which she has been running for years.
The loan that Magdalena is taking out will be used to increase her capital (buying food products). She will buy her products in La Ceja and then sell them in local markets. This work enables her to make income with which to support her family. Magdalena is married.
When we asked her what she likes about Pro Mujer, Magdalena replied that she likes the savings.
La señora Magdalena, indica que hace cinco meses que trabaja en Pro Mujer y que integro la institución por invitación de la promoción. En la actualidad ella tiene un negocio de venta de tucumanas que viene trabajando hace años atrás.
El crédito que ahora sacará es para aumentar su capital (compra de víveres) que adquirirá de la Ceja y posteriormente lo venderá en las ferias. Esta forma de trabajo le permite generar recursos para apoyar a su familia, pues ella es casada.
Cuando se le consulta qué le gusta de Pro Mujer, ella responde que le gusta los ahorros.
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