21 De Enero Group
The members are engaged in different activities like selling cosmetics, bread, groceries in grocery stores, meals, and services like public transportation.
In regards to the competition, it can be said that they are away of it and should make more efforts to be able to generate enough income to sustain their families. That is why they need a loan to buy merchandise, materials, supplies and tools to help them with the development of their businesses. This will generate more income that will bring their households a better quality of life. The majority of the members are in their second loan cycle with the institution. This demonstrates their responsibility, completion of payments, and good management of loans.
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