El Molino Group
Lucy, as she is affectionately called, is 42 and has been married to Margarito for 22 years. Together they formed a family with five children. Only one of their daughters is still studying and therefore dependent on them; the other four children are already independent. Lucy is a very enthusiastic and happy woman, but above all she is very hardworking.
She has made a living raising pigs, oxen, chickens, turkeys, and ducks for 22 years, since she married Margarito. Lucy says that she started this business because she wanted to help her husband with their household costs. She became even more motivated when the institution offered her a loan, which they said was to invest in her animals. Now she is applying for a loan to buy more pigs and calves.
She says that she doesn't have any difficulties in her work, because she already has plenty of experience with the animals. She has received two training sessions about raising animals, one from the institution and one from the government. Lucy said: "I like my work very much because I can see how the mothers give birth to their baby animals. Once we had a sheep who gave us twins, but she wasn't able to give birth to them and we had to help her with the techniques we learned in the training."
Lucy is very happy and grateful to VisionFund because thanks to the loans, she has been able to invest in her animals. With her earnings, she has been able to finish building her house. Her house only had two rooms, but now it has four rooms and a small living room. This has also helped her to give her children an education. However, she still has the dream that her daughter who is still studying can finish a professional degree and have a better quality of life.
The other members of the group are also very grateful to VisionFund and Kiva for this loan, because it will be a great help to them to invest in their businesses. Maximina will invest in embroidery, seafood and chicken to sell, Nicolasa will invest in sheep and corn, Rosaura will invest in clothing, and María Cruz will invest in her 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