Virgen De Urkupiña Group
The members of the Community Bank "Virgen D. Urkupina" organized themselves under the direction of their president, Jahana Vanessa, to access financial support through Agrocapital (Kiva Field Partner). They are currently on their second loan cycle and they have shown themselves to be honest and capable individuals with respect to their obligations and wth the premise of continued growth. The goal of loan is to support the expansion of the different business activities including the comercialisation of metallurgical products, foods, cosmetics, and some members have expressed their plan to make themselves independent and start out a new business, especially those that have their own vineyards and those who work in the cleaning industry. They hope to discover new and opportunities and find a better way of life for themselves and their family. The market competition is not a roadblock for their success because they are not intimidated by any obstablce to achieve their goal, that is, a better life for their family.
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