La Manzana Group
Ubalado is requesting the loan to invest in plumbing materials. Elizabeth will invest in turkeys to raise and fatten. Martha will invest in fruit and vegetables for her sales. Gloria will invest in beauty products, Alicia will stock her grocery store, and Agustina will invest in nail products.
Rebeca, age 35 and also part of the group, has been married to Jose Carmen for five years. Together they have made a family with two children, but only one goes to school. Rebeca has a breakfast business, which she tends on the week-ends and holidays. She started her breakfast business two years ago.
This time Rebeca is requesting a loan to buy soft drinks, juices, and cappuccinos. These are the products that she needs the most. She plans to buy in big quantities. Rebeca says that she has not opened her business because she and her children got sick. Her treatments were very expensive. This situation impeded her continued investment in the business.
Rebeca is very grateful to Vision Fund and Kiva because, thanks to the loans they have granted her, she has been able to buy a microwave oven, a coffee maker, and some tables and benches. The current loan will help her to open her business once again.
Rebeca’s dream is to make her business larger. She wants to do this in order to be able to establish a bookstore or an internet cafe because there are none in the community. However, for Rebeca to be able to manage this she needs to make her place bigger. The place that she has now does not have to capacity needed to tend to all of her customers.
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