Mercado 16 De Febrero Group
Olga is 40 years old and married. She has three children: her son is an engineer, one of her two daughters is in elementary school, and the other goes to university. She sells fruit and vegetables in the market, and fruit drinks, fruit, beans, and peanuts at an elementary school. She requested her loan in order to purchase disposable cups, peanuts, beans, sugar, and fruits and vegetables (mango, pineapple, watermelon, jicama).
She started her business 20 years ago. She worked with a lady selling vegetables in the market and was happy with the sales. Her business is important because it has provided her with many things: enough income for food, clothing, and leasure. She likes selling at the school with the children, and her business is known for its top-quality fruit, which is fresh and tasty.
Her hopes and dreams are that her business will keep growing, and that her daughters will finish school. She wants Kiva and Fundación Realidad to know that “We are grateful for the trust they deposit in us. Thanks to their loans we are able to grow, expand our businesses, and our families are better off. We hope not to dissappoint them and that they continue favoring us with their loans."
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