El Eucalipto Group
She says that for 14 months, she has had an auto parts store where she sells brake linings, tires, suspensions, shock absorbers, oils, spark plugs, brake cables, belts, and more. She goes to the city of Toluca to stock up on merchandise since she gets better prices there.
She is asking for this loan to stock her auto parts store. Currently she urgently needs oil, brake linings, and spark plugs since she has none in stock and that is what sells the most. She says she started this type of business because her husband is a mechanic and to leave her secure work, he helped her start the business. She is very happy with the loans that she has had because her business has not declined and she continues to sell well since she has a good stock of merchandise.
The other nine members of the group are María Margarita, Elvira, Lilia, Santa, Fausto, Ma. de los Ángeles, Cleotilde, Virginia, and Camerina. They will invest in jewelery, fruits and vegetables, groceries, fertilizers, manure and insecticides for a peach orchard, and ingredients to make food for sale.
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