Grupo 2 De Mayo Group
Magdalena is one of the group members. She is 50 years old, married, and has 5 children who are also married. Magdalena has a grocery store that she started a year ago to support herself. She wants to avoid financial problems in the coming years so she doesn't have to depend on her children. With this loan, Magdalena plans to purchase a greater variety of groceries and home cleaning products to have greater selection in her store and gain more customers. In the long term, she hopes that her store grows and becomes the largest in her neighborhood, so that she can support herself for many years.
Magdalena es una de las integrantes del grupo, tiene 50 años, es casada y tiene 5 hijos que ya están también casados. Magdalena tiene una tienda de abarrotes que inició ya hace 1 año para poder mantenerse, Magdalena busca evitar tener problemas económicos durante los próximos años y así no depender de sus hijos. Con su crédito, Magdalena planea comprar más variedad de abarrotes y otros productos para la limpieza de hogar para tener más surtido en su tienda y ganar un mayor número de clientes. A largo plazo, Magdalena espera que su tienda crezca y que se convierta en la más grande de su colonia y así garantizar su sustento durante varios años.
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