Nueva Realidad Group
She currently sells dinner at night (Mexican fast-food snacks) like crispy, fried tacos, enchiladas, ‘pambazos’ [type of sandwich], sandwiches, fried chicken pieces, fresh fruit drinks and soft-drinks. She says that she’s been in business three years and that now she’s only working selling food while she saves up enough to restock her grocery store.
Angélica is asking the credit firm for this loan to buy ingredients to make the fast-food snacks like tomatoes, lettuce, onions, chilies in vinegar, green chilies, Guajillo chilies, soft-drinks, seasonal fruit to make the fresh fruit drinks, chicken in pieces to fry, oil, gas, charcoal, etc. Angélica says that this loan will be of benefit to her because she’ll have a source of employment in order to give her little children a better quality of life. Her dream is to see her children grow up with a good education and good jobs because in these times, like she says, it’s very difficult to have steady employment where salaries are good. She’d also like to reopen her little grocery store because the profits she made there helped her repay the loan.
The five other members of the group are called Liliana, Lidia, Francisco, Maria Raquel and Alicia. They will invest in ingredients to bake bread, shoes to sell, bedspreads, sheets and towels to sell, perfume to sell and ingredients to make Mexican fast-food snacks 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