Total loan: $3,925

La Providencia Group

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PIEDRAS NEGRAS, VER. MEX, Ver., Mexico / Retail

La Providencia Group's loan finished fundraising,
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A loan helped Buy merchandise for their businesses.

La Providencia Group's story

This Development Cooperative is called La Providencia because that is the name of the community in which they live. Development Cooperatives are groups of more than ten people who have a bank account and have to meet weekly or biweekly to make their payments. They have a representative and a governing committee. La Providencia is located in the state of Veracruz. The group is comprised of 15 members. Luis Marcial C. H. is the group’s representative. Luis Marcial is 27 and single. He lives with his father, who is also a member of the group. He has a high school education. He sells sports clothes like tennis shoes, pants, and shorts. He needs a loan to buy more clothes and other sporting goods. He has a fixed location in the center of his community. Therefore, his customers are all of the people that pass by that location. He decided to start this business when he had just returned from the United States (Riverside, California). A friend suggested this business. His friend did not have the money to be able to start this business. Luis Marcial wants this loan to expand his business. In the future, he would like a larger location or even one in another community. As the president, he hopes that all of the other businesses of his colleagues are successful. Lucia V. C. is part of the governing committee of this group, La Providencia. She is 30, has a middle school education, and has one child. She sells jeans (Levi’s), shirts, blouses, and general clothes for the whole family. She needs a loan to buy more merchandise and to buy sandals. Her customers are her neighbors. She visits them by going door to door. She wants this loan to expand her business and to be able to buy furniture for her own home. The other 13 member are: JESUS C. G.-Sound equipment for his music business MERCEDES B. L.-Sells refreshments ROSENDA L. B.-Sells cosmetics JOVITA H. L.-Sells sweets SUSANA O. O.-Sells scented candles PILAR T. M.-Sells footwear MARCOS L. C.-Sells chicken MARIA ESTELA D. T.- Sells footwear TERESA O. O.-Sells clothes FRANCISCA A. R.- Sells footwear ELENA C. M.- Sells chicken VICTOR F. C.- Sells clothes ROSALBA M. M.-Sells sweets

Translated from Spanish by Ginny Kalish, Kiva Volunteer