Francisca, who is the group representative, relates that’s she’s been married to José for 47 years. They formed a family of seven children three of which are still dependent. “Doña Mago” as she’s affectionately referred to relates that she’s been selling turkeys for 18 years having learned from her parents who worked raising animals like turkeys. She also used to have chickens and sheep but didn’t consider them to be good options so that’s why she stayed with turkeys and why she’s asking for a new loan to buy four more turkeys.
The only difficulty Doña Mago has is when the turkeys get sick and die. She often loses her profit and the investment she made when she bought them. Doña Mago comments: “It doesn’t matter. I will continue striving to help my son who is about to complete high-school and I’d like him to continue studying and have a career. To do so, though, I’m going to have to have quite a few more animals and I know that with a Kiva loan I’ll be succeed.”
The other group members are: Dulce, Francisca, Genoveva, María Guadalupe, María and María Luisa who will invest in goats and María Guadalupe who will buy chicks to raise.
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.
18View loans »