Mr. Abad represents the communal bank “Tropical.” The group has 14 members. Most sell groceries, food, and cosmetics, or work in public transportation or bread baking. As with all commercial areas, there is always competition among quality products. This is why this group's members want to acquire more capital. They want to buy equipment and tools to make products and to buy supplies and materials for marketing their products. The development that the families that are part of this group have had is precisely because they are already on their 5th cycle demonstrating together their desire to work. And also demonstrating their responsibility in meeting their obligations, not only with the institution, but also with the commitments they have with the group to get ahead and to continue progressing together.
El banco comunal “Tropical” esta representado por el señor Abad y conformado por 14 miembros dedicados en su mayoría al comercio de abarrotes, comida, cosméticos, ropa y al servicio de transporte público de pasajeros y a la elaboración de pan. Como en todo rubro comercial siempre existe la competencia de productos de calidad es por esta razón que los miembros del grupo desean adquirí mas capital para la compra de maquinarias y herramientas para la elaboración de productos así como para la compra de insumos y materiales para su comercialización. El desarrollo que tuvieron estas familias integradas e el grupo se debe precisamente a que van ya cursando su quinto ciclo juntos demostrando tener ganas de trabajar y responsabilidad para cumplir no solo con la institución si no el compromiso que tienen con el grupo para salir adelantes y seguir progresando juntos.
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.