The members of the “Barrio Lindo” group are relatively young, but they have experience with group loans thanks to previous financing from institutions similar to the Agrocapital Foundation. The Agrocapital Foundation is giving the members this opportunity to generate more income in their small businesses, which incluD. activities such as selling clothing, fruits, and groceries. Other members will use their shares of the loan to purchase tools that will help them to do better work in such activities as carpentry and bricklaying, or to improve the tools that they currently have, as is the case with the members who make a living in activities like public transport. As Elvira, the group’s president, states, the competition in the market is growing each day, but the members don’t let that affect the products they are producing according to their customers’ preferences. The members depend on the income from their businesses to support their families, and that is why they are struggling daily with the competition in the market.
Los miembros del grupo “Barrio Lindo” son relativamente nuevos aunque cuentan con experiencia en grupos solidarios gracias a anteriores financiamientos con instituciones similares a la Fundación Agrocapital quien les brinda la oportunidad D. generar mayores ingresos en sus pequeños negocios D. venta D. ropa, frutas, abarrotes y a la compra D. herramientas que les ayudara a realizar un mejor trabajo en sus actividades D. carpintería, albañilería y a mejorar sus herramientas actuales como es el caso D. los socios que se dedican a actividades como el transporte publico. Como expresa su presidenta la señora Elvira la competencia en el mercado va creciendo cada día, pero las socias no dejan que renovar sus productos haciéndolos acorD. a las preferencias D. sus clientes ya que D. ello depenD. sus ingresos y por enD. el sustento D. sus familias que es la razón D. su lucha diaria con la competencia en el mercado.
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.