Nueva Ilusión Group
Juanita has a small grocery store, raises sheep, and also embroiders. She started out raising sheep and embroidering, but during the rainy season she noticed that the animals would get too thin and it was difficult to sell them. Two years ago she decided to open a small grocery store because whenever she needed to buy a product, she had to walk for several kilometers to get to a store, so she decide to begin selling the most essential products such as milk, bread, eggs, canned goods, soft drinks, etc. “My mother-in-law had a small store but ended up closing it, but I learned some things there.”
This time she is asking for a loan to buy more lambs, fabric, checkered cloth, yarn in various colors, thread, needles, etc. She will not invest into her grocery store at the moment because her oldest children will help her to buy products. Juanita has 20 years’ experience making weaves. “I have liked the arts since I was very little and I learned just by watching.” However, her vision is tired and now she needs gasses to make her napkins. She also says that she loves her three activities. She only gets customers in her store in the evenings, but keeps it open during the day and uses the time to weave and gets up very early every morning to make breakfast.
Generally Juanita doesn’t have any problems with her income and her only dream is to improve her quality of life for her children who are in school. The members of the group are very grateful to Kiva and Vision Fund for the loan because they will be able to invest in their businesses. Francisca will invest in groceries, Maximina and Yaneth will invest in embroidery.
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