Flor De Amaranto Group
Francisca Faustina is 53 years old, separated, and has ten children: four daughters and six sons. Only two of her sons are currently in school: one is in high school and the other attends a CBTA (agriculture-based educational institution). Francisca Faustina makes and sells wafers. She requested this loan to buy flour, paint, oil, ribbon, cinnamon and bags so that she can stock up with raw materials and have enough to continue working with. She is happy with the loan that she will receive as she will stock up with raw materials and have enough stored up so that she can continue making her wafers. The members of this group would like to say to Kiva and Fundación Realidad: "Thank you for the loans. Thanks to you, we are making progress in our businesses. Please keep helping us with your loans.
Francisca Faustina started her business five years ago as she watched and learned how to make wafers. Her first lot of wafers were spoiled as they didn't want to come out. Her business is important because she does well selling wafers. She makes enough income to pay for food and cover the expenses of her children who are still in school. She feels proud having her own business. She is well known by her customers who come to her house to buy her wafers. Her hopes and dreams are to get ahead in life and to build a workshop. She also wants the best for her children. She would like them to study for a degree and find good jobs.
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