El Pozito Comercio Group
The members of the bank are all very hardworking and enterprising people with productive businesses. Thus they are requesting a loan from FRAC. They include, for example, Sras. Maria de Lourdes, Maricuz, Maria Juana, and Icela, who will purchase cleaning products to sell, while Doña Julia will buy ceramic hotplates to sell.
Doña Natalia, who is also part of the group, has been a client of FRAC for several years and started by requesting a small loan to invest in her business selling hotplates and T-shirts. To date she has successfully had even larger loans.
She notes that she is 50 years old and has been married to her second husband, Sr. Remigio, for the past 25 years. They have four children, of whom only one is still dependent on them. Natalia has been selling hotplates and beachwear for 30 years and started the business because she wanted to help her husbands with household expenses. She says: “I enjoy selling very much because formerly I was a street vendor selling both in my own and neighboring communities, etc. Nowadays, we are selling in the city of Mexico. My only difficulty is during the rainy seasons because usually one cannot sell when it rains all day and I don’t have an established stall with all of my merchandise.” Nevertheless, the best seasons are yet to come for Natalia. Consequently she is requesting a loan from FRAC and Kiva.
Doña Natalia’s goal is to see her children become professionals.
All of the members of the bank are very grateful for the support and confidence shown by World Vision International and Kiva with the loan granted to them because it will be a great help in their productive activities.
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