San Silvestre Group
In spite of the great number of competitors, the members believe in the quality of their products. But, they need capital to invest in work tools and raw materials to increase their income and improve their families’ quality of life.
The group is relatively new, but they have experience with previous loan from entities that are similar to the Agrocapital foundation. Agrocapital offers them economic support to expand and improve their small businesses.
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