Sagrado Corazón Group
In August, she makes wreaths for the dead as it is a tradition in November to decorate the graves of the dead. She makes the wreaths and sells them in a grocery store and sends others to her husband who has a glassworks in the village of Zitacuaro.
Carolina is requesting a loan to purchase non-perishable groceries such as tuna, sardines, pickled chillies, cooking oil, rice, sugar, ground cinnamon, cornstarch, soups, jellies, toilet paper, lentils, poultry seasonings, etc. She wants to improve the selection in her store so that her customers do not go elsewhere to shop. Her goal is to own her own shop so that she no longer has to pay rent.
The other group members include Laura, Yrene, and María Cristina. They will use loan proceeds to buy different brands of shoes to sell, to purchase building materials for sale, and to stock 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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Success!! The loan was 100% repaid