Lorenza is the president of this group and she says that all of the women are working hard and helping each other. This is how they are making progress. Lorenza has a grocery store where she works every day from very early in the morning until very late at night. Thanks to this business, she is able to help her family and has the money she needs to cover her day-to-day expenses.
Lorenza is requesting this loan to buy the supplies she needs to stock her store (meat, drinks, dairy products, baked goods, etc.)
Lorenza es la presidenta del grupo, y cuenta que todas ellas con mucho sacrificio y esfuerzo están ayudándose las unas a las otras y de esa forma salen adelante. Ella por su parte tiene una despensa, donde trabaja todos los días desde muy tempranas horas, hasta muy tarde en la noche, es gracias a su negocio que ayuda a su familia y tiene los medios necesarios para cubrir los gastos del día a día.
Ella solicita el crédito para la compra de insumos necesarios para poder surtir su despensa con carne, bebidas, lácteos, panificados y demás.
About Fundación ParaguayaFundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
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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