Flor De Canela De Jovenes Group
The other members of the association also have their own businesses, like knitting gloves, sewing, and clothing sales. They will also use the loan to purchase raw materials.
The four members are very motivated to work together and support each other.
Los cuatro se mostraron muy motivados a trabajar juntos y apoyarse mutuamente.
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