Medalla Milagrosa Group
One of the group members is Sra. Ignacia, who sells handicrafts and baked goods. She says that she is requesting a loan so that she can buy supplies for making pastries and breads. Ignacia says that she is very grateful for the opportunity she has received so that she can improve her family’s income.
The rest of the members are very pleased as well. They want to continue growing and the training classes have been a great help.
Una de las integrantes del grupo es la Sra. Ignacia, ella se dedica a la venta de manualidades y repostería. Y cuenta que solicita este crédito para la compra de insumos para la elaboración de masas dulces y panificados, ella se encuentra muy agradecida ya que gracias a la oportunidad que recibe podrá mejorar sus ingresos y el de su familia.
Todas las demás miembros están muy contentas también, ya que van creciendo y las capacitaciones les son de mucha ayuda.
About Fundación ParaguayaFundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
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