Flor De Maguey Group
María works every day from 4:00 to 9:00 pm, combining 8 hours of weaving with housework. She is so active that she has not only generated income for her and her family, but also employs six poor women in her community.
With her credit María hopes to strengthen her textile business and hire porters to plant corn. She is very happy about having learned how to use credit and having undertaken this business. She does not know what would have happened if she had not access to credit, she is pretty sure she had not been able to educate their daughters.
About Asociacion Chajulense de Mujeres:Asociacion Chajulense de Mujeres is a nonprofit organization that serves women of the Ixil and K’iche’ Maya communities in the Quiche region of Guatemala. The nonprofit commercializes the artisanal products created by the members of the organization, and provides a credit and savings program, life insurance policy and investment opportunities for its members.
Kiva’s partnership will allow ACM to expand its credit program, support more women in need and provide a greater number of opportunities to individuals in rural 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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This loan has been fully funded!