Pueblito is a single mother. She has two children who are in elementary school and a grocery store which she has been running for more than three years. She says that she set up the store in order to provide for her children and her mom as they are dependent on her. She says that she stocks up with the products that she sells in her store in different stores in a nearby town. She is requesting a loan to buy oil, matches, soap, milk, eggs, sugar, salt, flour, soft drinks, sweet treats, instant soups, coffee, light bulbs, razors, beans, toilet paper, napkins etc. She says that the loan will be very useful because she will be able to have more products available in her store and thereby make more profits.
The other nine members of this group are called Anastasia, Nancy, Alejandra, Gonzalo, Maribel, Noheli Alejandra, José Luis, Maricela and Virginia. They will invest in buying supplies for making Mexican snack food which they sell in the evenings, men's and women's clothing, shoes from a catalog, supplies for making bread, items to stock a grocery store, costume jewelry, iced treats and material for making embroidered items 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