They need loans in order to raise their work capital, to stock up merchandise and purchase more supplies and materials to produce a more quality and competitive product. The competition they have in the area where they work is accesible to good sales because it is removed from the city center, so most of the revenue goes to support the livelihood of their families. The partners that knit or macramé wool and fabrics have a different market since they do work based on requests and sufficient demand.
The group is entering their fifth cycle, fulfilling all obligations responsibly and in a timely manner. They have sufficient experience within the group, and for this reason the Foundation Agrocapital has confidence in financing them yet again.
Este grupo ingresa a su quinto ciclo, cumpliendo con responsabilidad y cumpliendo con sus obligaciones puntualmente por lo que cuentan con experiencia suficiente con los grupos solidarios, es por esta razón que la Fundación Agrocapital le brinda la confianza para un nuevo financiamiento.
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