Margarita is 57 years old, married, and has 3 daughters; 1 studies in normal school while the other 2 aren't in school. Margarita sells buns stuffed with rice and sugared and chocolate-covered donuts. She is requesting a loan to buy wheat, rice, sugar, firewood, gas, milk, cinnamon, and chocolate. Margarita began her business some 34 years ago. Her husband learned how to make these products and taught her to make stuffed buns.
They sell their products in the streets of their community and the customers like the flavor. Her husband helps prepare the stuffed buns. Margarita's business is important because they must make sales to have money daily. She likes to make the donuts and stuffed buns and feels proud and thanks God for having this business, which helps cover the costs of her daughter's schooling and buying basic materials to continue working and making their products.
Margarita's dreams and hopes are that their working area might expand to produce more stuffed buns, and that their daughter continue ahead, finishing her teaching training and finding employment.
The group members wish to say to Kiva and the Fundacion Realidad “we are grateful for the loans that help us grow our businesses and to live better with our families, and we wish you much success, health and happiness.”
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