Margaret sells eggs from her poultry farm and has a bakery where she makes cakes and other simple confectioneries, as well as sells charcoal. She has spent ten years managing her businesses. One tool to her success is the quality of products for her customers. Margaret has a dream of expanding her businesses and keeping her family healthy and educated, as well as having more money to run her family and businesses. With her share of the loan, Margaret will buy more layer chicks that will give her more eggs to 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