Don Bosco Group
Through this group, the members have improved their businesses, selling food and other groceries in stores in the neighborhood, which are now better stocked with the most popular products; and those providing public transportation services have improved their equipment.
The purpose of this new financing is to provide capital to obtain larger contracts, such as weddings and other catered events with appetizers and entrees provided, in order to generate greater income and growth. Within the food sales sector there is much competition, but the quality of products of these members insures a daily income that they can maintain their families with.
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