Los Nardos Group
For more than 20 years, she and her husband have had a hardware stand where they sell picks, hammers, screwdrivers in various sizes, drills, silicon tubes, nails, screws, saws, paint brushes, etc. She says that she has the stand outside the wholesale food market and that they were given it with much effort and sacrifice because many people compete for this type of stand because being near the central bus station sales are very good. She says that because they had no jobs, she and her husband set up their business.
At first they sold paint for shoes, shoe polish and shoe laces and then the people themselves suggested they start to stock things like screwdrivers, screws and many other things so she says she saved up a little money and went to Mexico City to stock up because all sorts of hardware and things sold in hardware stores are sold there; she decided to make her business grow and says that she’s now asking Vision Fund for a loan to improve her stand. She wants to make it grow by buying some packages of hardware she saw and she wants to buy a tarpaulin because the one they have is deteriorated because of the weather. She says that the loans she’s asked the financial institution have improved her business and her family conditions and now her goal is to have a larger stand.
The other group members’ names are Alicia, Olivia, Leonel, Priscila, Rosa María, María Guadalupe and Juana and they will invest in their various businesses like stocking up on seasonal fruit and vegetables to sell, stocking up on underwear to sell, buying corn to make corn tortillas and buying stock merchandise for a grocery store.
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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