Las Peras Group
She’s had an avocado orchard for more than 15 years and she says that between her and her husband they’ve moved the orchard ahead in order to have better quality of life. She relates that when it’s harvest time she heads out to the wholesale foodstuffs market very early to sell and sometimes she sells them in the market in a town nearby; she sells them by the little bagful.
She’s asking for a loan now to buy organic manure, fertilizer, Calidra [brand of hydrated lime powder] and insecticide because due to the strong wind that’s buffeted her community an infestation of little spiders has attached that don’t let the fruit develop well and this is why the loan is urgently needed to eliminate this type of infestation. She says that thanks to the loan she’ll be able to keep her orchard in good condition and with profits obtained she says she’ll save up so that in October and November she will buy poinsettias to resell in the state of México.
The other three group members are called María Verónica, María Angélica and Graciela. They will invest in ingredients to make Mexican fast food snacks, in seasonal fruit and vegetables and in plastic dinnerware to sell.
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