Luz Y Vida Group
Members of the group participate in a variety of activities. Some own neighborhood stores, while others sell chompas (traditional sweaters), spare parts for vehicles, signs and stationary supplies. Juan Carlos owns a repair shop for electrical items. The Luz y Vida Asociation needs to purchase merchandise to increase their sales so that they can earn higher incomes and support their families.
La mayoría de ellas son casadas y con familias numerosas. Existen varias actividades dentro el grupo, algunas tienen tiendas de barrio, otras de ellas venden chompas, repuestos de vehículos, letreros, material de escritorio, Juan Carlos tiene un taller de electricidad. La asociación Luz y Vida necesita comprar mercadería para ampliar sus negocios, de esta manera generaran mayores ingresos para sostener económicamente a sus familias.
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