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Galaxy (Flat) Group
In this Group: Juan , Dalia, Elizabeth, Esperanza, Alicia
The Galaxy community bank has five members. Don Juan, 43, and his wife, Sra. Hilaria, have been married for 20 years and have three children, all still living at home. Don Juan started a doll-making business three years ago. He says that he used to work for someone else, selling toys, but he got to know a distributor who offered to sell him equipment for making dolls and decided to set up his own business. He is applying for a loan to buy the materials he needs--plastic, cloth, paint, etc.--to carry on the business. He says that his only problem is a lack of money to invest in the business. The materials and equipment for making the dolls are expensive and he lacks equipment for making clothes for the dolls. "The loan won't stretch as far as I need it to", he says, "but I'm grateful to KIVA and Vision Fund because I'll be able to buy more materials now and not worry about coming up short later". Don Juan wants to grow the business because the more he earns from the business, the more he can help his family. The other members of the group are: Dalia, who has a telephone accessories business; Elizabeth, who will buy supplies for making bread; Esperanza, who also has a telephone accessories business; and Alicia, who buys and sells plastic products.
View original language description ↓
El grupo Galaxy está integrado por cinco personas. Don Juan tiene 43 años de edad está casado con la señora Hilaria desde hace 20 años juntos han formado una familia con tres hijos de los cuales aun dependen de dicha pareja. Don Juan se dedica a la elaboración de muñequitos desde hace tres años, son muñequitos muy bonitos, platica que su actividad la inicio porque antes se vendía juguetes con otra persona él solo era empleado pero en el transcurso del tiempo conoció a un proveedor que le ofreció venderle la máquina para la elaboración de los muñequitos. Esta vez está solicitando un crédito para comprar materia prima como plástico de vinil, tela y pinturas. Dice que su única dificultad es la falta de dinero para dinero para invertir más en su negocio porque su materia prima es muy cara y mas las maquinas, ahora lo que más le hace falta es la máquina para elaborar la ropita para vestir a sus muñequitos, “Este crédito no me alcanzara para mucho pero estoy muy agradecido con KIVA y Vision Fund porque de alguna manera podré comprar más materia prima y no tendré que preocuparme por comprar más material” Don Juan quiere lograr hacer crecer más su negocio para que con sus ganancias pueda beneficiar a su familia. Los integrantes del grupo son Dalia quien invierte en accesorios para teléfono, Elizabeth comprará materia prima para la elaboración de pan de feria, Esperanza invertirá en accesorios para teléfono para después venderlos y Alicia productos de plástico.

Additional Information

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.

Tags

About Mexico

  • $15,600
    Average annual income
  • 29
    View loans »
    Mexico Loans Fundraising
  • $19,068,050
    Funds lent in using Kiva
  • 13.3
    Mexico Pesos (MXN) = $1 USD

Success!! The loan was 100% repaid

A portion of Galaxy (Flat) Group's $3,775 loan helped a member to buy materials for his doll-making business.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 12, 2014
Listed
Mar 9, 2014
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014