A loan of $3,050 helped a member purchasing stationery supplies, embroidery materials, etc.

El Cedro Group's story

This development cooperative is called El Cedro, since that is the name of the district where all of the members live. El Cedro is in the state of Veracruz. Development cooperatives are groups of 10 or more individuals who have a bank account and who have to meet weekly or every two weeks in order to make their payments. This group has a representative and a governing committee, and is comprised of ten members.

The group’s representative is named Adolfo G. Gómez. Adolfo is 48 years old, married, and has two children. He is going to set up a stationery store in his home and needs a loan so that he can purchase blank paper, cards, and other supplies. His customers are the children who attend the school that is situated a half block from his house. Adolfo has been a teacher at that school for twenty-seven years. He tells us that times are difficult, and so he decided to find other work in order to earn a little more. Adolfo wants this loan so that he can increase his earnings and thus be able to purchase basic foodstuffs for his children. He hopes that his children will finish their studies someday and be able to purchase their own homes. He is happy to be the group’s president, since he wants to help the rest of the group, and without help from the other members they would not receive this loan.

Agustina Miñón M. serves as treasurer on El Cedro group’s governing committee. She is thirty-three years old, completed high school, and has two children (a girl and a boy). She makes a living selling gold, hand-sewn goods, embroideries, and paintings, and needs a loan so that she can purchase gold jewelry and cut glass. Her customers are her neighbors and include other members of El Cedro group, who purchased jewelry and bathroom sets from her. She has made a living from sewing for twenty-four years and learned this craft when she was in school, but she has only been painting for a little while. Agustina wants this loan so that she can increase her business and thus increase her profits in order to pay for her children’s studies and food.

The other members are:

Hilda L. Romera – who sells clothing and perfume
José Ignacio Hernández Hernández – a mechanic
Gloria G. S. – who sells clothing
Guadalupe Bustos C. – who sells shoes from a catalog
Teresa de Jesús Díaz V. – who prepares and sells churros
Juan Ángel R. R. – who sells groceries
Julio Gómez Miñón – who makes bags and bracelets
Juan Fernando E. Pérez – a bricklayer
Daniel Lara Maza – who sells groceries.

In this group: Hilda, Teresa De Jesus, Agustina, Adolfo, Jose Ignacio, Julio, Gloria, Guadalupe, Juan Fernando, Juan Angel

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Translated from Spanish by Kiva volunteer Chris Knutson

Loan details

Lenders and lending teams

Loan details