Union De Mujeres De Desarrollo Group
Julia has operated a business selling groceries and food. She runs a colmado, a small grocery store where she sells goods or different food like supermarkets. She will use her loan to increase her inventory by buying rice, sugar, beans, cooking oil, canned food, flour, and other goods.
Julia and her husband live together with their three children. Her most important challenges are to work hard to gain extra income and to better her home structure together with her husband and older son incoming.
She is receiving her seventh loan from Esperanza Internacional. Because her loan repayments have all been made punctually, she has been able to grow her business with the reinvestment she makes from each loan.
Julia would like to save her profits to finish building her house.
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