The Communal Group "Esperanza 2006" is part of the Los Andes Focal Center and has been together for about 4 years. One of the members is Elena M. who needs a loan in order to buy jackets and thereby increase her available merchandise. Currently she sells her products at the July 16th Market but she has the goal of opening another sales location. Just like Elena, the other members of the Communal Group have their own businesses like selling plastics, rice, noodles, school materials and other items. They need a loan in order to buy merchandise.
La Asociación Comunal “Esperanza 2006” es parte del Centro Focal “Los Andes”, con aproximadamente 4 años de vida una de las integrantes es Elena M., que necesita el préstamo para comprar chamarras y así incrementar su mercadería, actualmente comercializa su producto en la feria “16 de Julio” pero ella tiene el objetivo de abrir otro punto de venta. Al igual que Elena las demás integrantes de la Asociación Comunal tienen sus propios negocios como la venta de plástico, arroz, fideo, material escolar y otros y necesitan el préstamo para comprar mercadería.
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.