Las Flores Del Campo Group
She has been embroidering products by hand for over 20 years. She says that when it is vacation time she climbs to the sanctuary to sell the napkins, blouses, tablecloths, and pillows that she embroiders herself. She says that she buys the materials in different stores in the city of Zitacuaro. They give her low prices there, and that way she is able to make a little more. She says that she started this business in order to help her husband with the children’s expenses. They are five, and they still live with her.
She is requesting a loan to buy materials to do her embroidery. She will buy things like needles, fabric, thread, and hooks, etc. She says that if she gets the loan she will be able to make her business grow. She says that she is very happy to be able to receive this resource that will serve her to get ahead in her business.
Marcelina’s goal is to establish a stable business in her area. Also, she would like to have a grocery store so that she would not have to leave her house. That way she would be more vigilant with her children.
The other members are Irma, Martha, Maria Remedios, and Maria de Lourdes. They are requesting their loans to invest in renting video games in order to provide this service, buying grocery store products, and buying different flavors of sweets to sell.
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