Mujeres En Fuerza Y Unión Group
She is requesting a loan to expand her business and buy more sweets and refreshments to have a bit more variety. She only works at the co-op in the morning because there is someone else there in the afternoon, but she wanted to be the person responsible for the business because it is hard work and people advised her to take it over because she is such a good cook. Her goal is to open a small restaurant since she is servicing many people, and hopefully she can make her dream come true one day.
The other members of the group are María de la Luz, María Luisa, María Verónica, Irma María, Mario, Luz María, María del Carmen and Fanny Mercedes. They will use the loan to buy stationery products, seasonal fruit, grocery store items, beauty products and supplies to make Mexican snacks.
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