Las Provincianas Group
Teodora Limache explains that they initially met in the German Busch zone in a rented house. But, with the passage of time, they had to move to the Alto Lima community center. Teodora sells jackets that she takes to Desaguadero (on the border with Perú). She will use the loan to buy jackets, and she will be careful so that they are different styles.
The rest of the members also have different businesses such as selling calculators, blankets, fish, vegetables, sweaters, and other things.
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