El Laurel Group
Patricia is 27 years old. She is married and has two sons who study, one at primary school and the other at preschool. She sells typical sweets and peanuts. She is requesting a loan to buy tamarind, sugar, peanut beans, brown sugar, honey and a part will be used to buy doors for her house. She sells peanut and amaranth palanquetas, jamoncillos, comates, tamarindos and obleas, typical Mexican sweets. She started her business seven years ago. Her parents-in-law make a living making sweets and they showed her how to make sweets. Her business is important as from it she provides for her sons education. She goes out to fairs and town squares to sells her sweets to visitors and pilgrims. Her husband helps her in the business as he also knows how to make sweets. She uses her profit to invest in buying supplies and food.
Her dreams and hopes are to continue working selling peanuts and to build a house for her children. The members of this group want to thank Kiva and Fundación Realidad: "Thank you for supporting us with your loans, they help us to continue working and extending our 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