A loan of $3,350 helped a member purchase merchandise.

Las Margaritas Group's story

The LAS MARGARITAS Communal Bank is comprised of 12 members of varying ages—anywhere from 20 to 50 years old. The president of the group is a person of strong character who is cheerful and proactive. She has 3 children who are in school. Her eldest is close to finishing his Bachelor’s degree. Ms. Maria is the secretary of the group. She is a cheerful, determined and proactive woman whose sister is also a member of the group. Ms. Elizabeth is the group treasurer. She is also a person of strong character who is very a very cheerful team player. The other members of the group have very similar personalities. The president, Ms. Mery, runs a small general store, while Ms. Maria, like other members of the group, sells cosmetics by catalog. Ms. Elizabeth owns three minibuses that she rents out. Other group members sell food at the nearby schools. Mr. Jesus is a taxi cab driver, while Mr. Albaro runs a small internet café. Even though there are similar businesses all around them, the consumers’ disposable income and the constant urban growth prevent any negative impact with regards to the competition. However, these members are trying to make their businesses grow, which is why they are requesting this loan. Some of the members need this loan in order to obtain merchandise in bulk. Others need it to purchase construction materials to expand their business spaces and provide better customer service. In the case of the drivers and the minibus owner, they need the loan in order to purchase spare parts and provide vehicle maintenance. The owner of the internet café is requesting this loan in order to update his computers’ software and hardware. This group is currently in its fifth loan cycle, which means that the most of the members already know each other and have experience working with microloans.

In this group: Mery Martha, Soledad Miriam, Cristina, Jenny, Victoria, Albaro Fidel, Martha Marcela, Patricia Conzuelo, Jesus Miguel, Elizabeth, Maria Angelica*, Alberto Daniel
*not pictured

Translator profile picture

Translated from Spanish by Kiva volunteer Elizabeth Casian

Loan details

Lenders and lending teams

Loan details