La Vida Nueva Group
She relates that she’s part of a group called “La Nueva Vida” (The New Life) and she says they named it thus because she says their life has changed through the Vision Fund loans they’ve been granted. She says that her new life is better because she’s given her children better quality of life and now she feels better because she has a business of her own where she’s discovered that she has skills she’d never noticed before, above all how to negotiate with people.
She sells clothes like jackets, pants, sweatshirts, stockings, socks and children’s and women’s underwear. She says that she’s had the business for a little more than six years and she stocks up on clothes every fifteen days in Mexico City and Moroleón because she gets lower prices there and also because she can buy directly from the manufacturers.
The loan will be beneficial because she’ll have a good stock of clothes and she’ll have more variety. She says her goal is to be able to open a locale at home because she does not now have a stable one and she sells clothes to her customers from house to house.
The other three group members are Fabiola, Vianey and Juana and they are going to invest their loans in the purchase of shoes by catalogue to resell to customers, to buy animal feed and to buy pigs to raise and then 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