Mujeres Con Futuro Group
Florencia Martha, 37, has a spouse and three daughters attending school, two in secondary school and the little one in elementary school. She sells 'obleas' [thin wafer sandwiches filled with caramel] that she makes in different shapes with honey and pumpkin seeds that she sells in round containers. She asked for the loan to buy raw materials: wafers, honey, pumpkin seeds, vegetable oil, bags and cellophane tape. Part of it will be used to repair her truck and another to pay laborers. She started the business 14 years ago. She paid for the machinery in installments. Her business is important because it’s an income for the family and she can give employment to several people. She feels proud of her business for thanks to it her daughters have everything they need. She goes out to the street market to sell and earns income. She uses profits for all of her daughters’ school expenses, for food and to repay the loan. Her daughters help her assemble the ‘obleas’ and her husband makes the containers. Her dreams and hopes are that the business grows and that her daughters continue with their schooling and attain careers.
The group members want to say to Kiva and to Fundación Realidad: “Thank you for your loans; they help us fix some problems we have. Please continue helping people in need.”
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