Carmen, 43, lives with her common-law husband and two daughters, one of whom works and the other is studying to be an engineer. She sells gifts, cakes, dairy products, yoghurt and gelatin. She has requested the loan to buy merchandise such as stuffed animals, dairy products, perfumes and toys. She started her business 20 years ago. Her husband works in a creamery and is paid in merchandise. The business is important because she enjoys treating her customers well and with kindness, and earn an income. She is pround to have her own business and be able to help the family economy. She uses her profits to buy food and reinvest in her business. The loan she is requesting will give her the opportunity to buy new gift merchandise for Mother's Day, followed by Teacher's Day and Children's Day. Her goal is to open a shop window to display her goods, and through much effort and God's help, see her daughter finish her degree. The members of the group want to express to Kiva and the Fundación Realidad: "Thanks for the loans that will help us meet our goals; and please continue granting the loans so we can grow our business and help our families".
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