Rositas Del Ocho Group
One of the group members is Laura. She is 31 years old and only finished elementary school. She has three children. She’s a housewife but also a merchant at the same time. She comments that her business started with much love since it’s the tool she uses to provide her children with a better life.
Laura sells clothes via catalogue. She sells her items to residents in her community. She’s been in business for 15 years. Her dedication to her business has allowed her to establish a regular customer base that is faithful to her thanks to the good service and kind treatment.
The loan will help her invest in more clothes. She dreams with some day having an establishment where she can display all her products and counsel people who would like to start their own business.
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