Today, Anibal’s business provides an income and enables him to enjoy time with his wife, three children and two grandchildren. His business has steadily grown with the help of four loans from ACCION USA. His most recent loan was used to purchase a tile cutter and a small scaffold.
Anibal began his business with very little, but through his honesty and hard work, he has built a great reputation and sustainable business. Anibal has decided that he will retire in the next three years and is meanwhile working hard to fulfill his goal.
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