She relates that she’s had a grocery store for more than 28 years and that she opened it to help her husband with household expenses because there used to be more children to support who at that time were attending school. She also opened a small grocery store because of need; there wasn’t any grocery store where they could buy basic staples for personal use and to eat.
She says that she wants a loan and is asking Visión Fund for it in order to stock the grocery store because she wants to buy soap, eggs, milk, chlorine bleach, fabric softener, beans, rice, tuna, sardines, cookies, toilet paper, disposable diapers, soft-drinks, juices in assorted flavors, etc. She says that she buys all those products in various stores in a nearby town where she gets them at low prices so that she can earn a bit of profit when she resells them.
She says that her greatest dream is that her youngest son has a career and is able to improve himself because stable employment is scarce in the community where they live; he still has two more years left in high school. She also wants to make her business grow a bit more and to sell dairy products and cold cuts so that folks don’t have to go to other towns to buy what they need for their meals.
The other seven group members are Domitila, Natalia, Gabriela, Enriqueta, Martha, Laura and Sebastiana and they will use their loans to buy products to stock grocery stores, to make traditional clothing and to buy sheep 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