Medalla Milagrosa Group
To form the committee, we first went to Ms. Her Melinda B., mother of three, who exclusively works selling adult clothing, because of her we were able to meet the rest of the members, who also participate in may activities to help cover their families basic needs. They are from km 8 ½ Acaray, Ka’aguy Rory. They each withdrew 300,000 guaranies. (Paraguayan currency) which was used for buying merchandise, such as clothing, foodstuffs, and other things for sale.
About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more
Translated from Spanish by Sandy Juárez, Kiva volunteer.
Para la formación del comité, primeramente recurrimos a la Sra. Hermelinda B., madre de 3 hijos, se dedica a la venta de ropas exclusivamente para adultos, a través de esta señora llegamos a conocer al resto de las integrantes, quienes también realizan varias actividades para cubrir necesidades básicas de sus respectivas familias; ellas son del km 8 1⁄2 Acaray, Ka´aguy Rory. Ellas retiraron 300,000 Gs. cada una, el cual se destina a la compra de mercaderías, tales como: ropas, comestibles. y otros artículos para la venta..
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