El Maya Group
She tells us that she has a business selling clothing for women, men, and children and says that she's had it for more than 20 years. She says she goes to stock up on her clothing in León Guanajuato where they give her better prices and in this way she earns a little more. She tells us she sells her clothing at different marketplaces in her town's surrounding communities and she's very happy with this because at her age she feels useful and has her own money.
She says that she is requesting a loan to buy white stockings, shirts, and blouses for girls' school uniforms, since the new school year has just started and her customers are asking for these things, as well as blue and white trousers for boys, and skirts in specific colors to be used as school uniforms. She says that she hopes that with this loan they are giving her that she'll be able to better supply her business.
The other four members of the group are Petra, Rosalba, María Elena, and Eduardo. They will invest in their businesses such as a taco stall, embroidery of artisanal garments, buying perfume and clothing from catalogs and selling them, and buying pigs and pig feed.
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