La Concepcion De Santiago Group
Maria has been in this business for one year. She makes her sales as a peddler in markets, parks or public places. She says that she is already well known by many people who buy her products and they are satisfied because they say that the things she sells are very pretty, she sells them at a good price and they like the variety of products which she offers.
Maria is a new member of the group and she says that this is the first time that she has acquired a loan of this type. Today she is happy and grateful for the trust that has been placed in her. She says that she will use this loan to buy more merchandise and she will invest her profits in another business which she has in mind, selling quilts and bedspreads for this season. Maria fully intends to grow her business and make good profits and also to finish building her house which, for one reason or another, she hasn't yet managed. She is sure that with the help of the loans she will achieve this goal in the future. Maria is 52 years old and studied up to the sixth year of elementary school. She is married but no longer lives with her husband. She has 7 children: 2 grown-up sons and 5 grown-up daughters.
About CrediComunThis loan is administered by CrediComun, a Kiva Field Partner since February 2010. CrediComun is dedicated to providing loans to groups of women in rural areas in Mexico, and is beginning to lend to individuals as well. One of its newest branch offices is in Ciudad Neza, a poor suburb on the outskirts of Mexico City. CrediComun has grown rapidly since its inception in 2005, with 37 branch offices and over 350 employees, and was ranked the 12th best microfinance institution in Latin America in 2010 according to the Microfinance Information Exchange (MIX).
For more information on CrediComun, please visit its partner page. If you would like to support CrediComun and its borrowers, please visit its lending team.
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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Success!! The loan was 100% repaid