Flores Magon Group
Clementina has owned her grocery store for approximately 13 years and started the business because a neighbor of hers used to sell groceries. Her neighbor moved house and there wasn't another store nearby. Clementina therefore thought to set up a table selling sweet treats. She gradually invested in groceries and stocked her business. She says that, thanks to her loans from the institution, she has increased her profits as she has managed to stock up with items that she didn't used to sell. She supplies her products to different stores in her town.
Clementina is married to Leonel who works for a company that makes baked goods. They have three children who are all married. Clementina's goal is to open special premises for her grocery store since right now she only has some shelves in her living room.
The other ten members of the group are Maria Socorro, Reyna, Isabel, Stephanie, Patricia, Magdalena, Rocio, Vianey, Teresa and Marisol. They requested their loans to invest in a clothes store, to buy sweet treats to sell, to sell meals, to invest in a grocery store, to buy materials for making clothes, to buy catalog shoes, to buy jewelry, to make Mexican snacks and to buy catalog clothes.
Las otras diez integrantes del grupo son Maria Socorro, Reyna, Isabel, Stephanie, Patricia, Magdalena, Rocio, Vianey, Teresa y Marisol ellas pidieron sus prestamo para invertirlo en una tienda de ropa,compra de dulces para su venta,venta de comida,invertir en tienda de abarrotes,compra de material de hacer prendas de vestir, zapatos por catalogo,joyeria fina, antojitos mexicanos y para comprar ropa por catalogo.
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