Bordados Mazahuas Group
Doña Soledad says that she is 59 years old. Unfortunately, she is already a widow since her husband died a short time ago. She raises and sells animals, such as chickens and sheep. Doña Soledad has been in this business for 31 years and began working because she wanted to help her husband cover the household expenses such as education, food, shoes, and other needs. Her greatest difficulty is the lack of feed, such as fodder and corn, since these products are very expensive due to drought and the lack of rain required to achieve a good crop harvest. Doña Soledad says that one time she had to withdraw her savings from the bank in order to buy feed for her animals. However, this did not discourage her at all since her goal is to buy a calf that she can keep at her house. Even though her sales have done very well, she still wants a calf. She also explains that a loan has been a great help to her on several occasions when buying fodder, corn, and feed. When she sells, her profits are used to buy food, shoes, and clothing for herself and her daughter who is still dependent on her.
Regarding the other members, they will invest in their respective business activities:
• Olivia and Juliana will buy chickens.
• Don Mario, the only man in the group, will buy sheep.
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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