Safiro De Morelos Group
Young Miguel Ángel is 20 years old, single, and sells bedspreads, and linen. He requested a loan to buy bedspreads, quits, sheets, pillows, and towels. He started his business one year ago after his uncle invited him and he thought it was a good idea. He sells on foot and goes out to offer his products to his neighbors. His business is important because it helps him improve his quality of life and he is proud to sell his products and enjoys meeting other people. He is happy about this loan because it will give him the chance to invest and grow his business. He will use his earnings to reinvest into merchandise so that he can grow his business. His dreams are to have a larger bedspread and linen business and he plans to achieve this dream with the help of his Kiva loans.
The members of the group would like to tell Kiva and Fundación Realidad, “We appreciate your loans. We feel secure knowing that you are helping us grow and live better with our families.”
Sus sueños son tener un negocio más grande de colchas y blancos y lo pienza lograr con los prestamos de Kiva. Los integrantes del grupo quieren decirle a Kiva y a Fundación Realidad “les agradecemos sus préstamos nos sentimos seguros al saber que nos ayudan a crecer los negocios y vivir mejor con la familia”.
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