This group has 10 members and this is the first time that they have requested a loan. Teresa de Jesús López is a member of the group. She is 56 years old and didn't attend school. She has one son. Teresa has been selling cosmetics and tamales for 30 years. She is requesting this loan to buy merchandise. Her customers say that they like to buy from her because she is very hard working and kind to everybody. Whenever they have a problem they ask her point of view because of the experience that she has. At the time of requesting this loan, Teresa feels very happy and has a great desire to work. She requested this loan to buy more merchandise such as beauty products and also corn for making her tamales. She needs both of her jobs because she can't cover her family's expenses with just the one. Her customers make a lot of orders and sometimes she doesn't have enough money to buy everything. Teresa hopes that she will be able to provide a better education for her son since she never received an education herself.
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