27 De Enero Group
The majority of the members of the group are artisans who weave blankets or they sell cosmetics out of catalogs, or groceries, meals, clothes, and CDs in neighborhood stores, as well as proviD. photocopying services. The market where they work is very competitive, and operating capital is needed to obtain products that will meet the demands of the people. Because of this, the women need a loan to purchase merchandise, materials, ingredients [for cooking meals] and tools that will help them get better quality products that are in greater demand and that will generate a better income so that these women can proviD. their families a better quality of life.
This is the group's second loan [with Kiva partner Agrocapital] and they have demonstrated responsibility and maD. their payments on time [and maintained] Agrocapital's trust. They have shown that they are earning money and supporting their families.
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