Some of the members have businesses selling things such as cosmetics, sweets, clothes, food, vegetables and toys. Others make sportswear, jewelry, and hats.
The sales people need a loan to buy merchandise. The others need to buy raw materials.
Verónica G. is one of the oldest members. She remembers that when she joined the Community Association she did not have a business. But, little by little, she got involved in selling cosmetics. With the passage of time, she was able to get a fixed place to sell from. Now, her goal is to carry more products to offer her customers.
Verónica G. es una de las más antiguas socias, ella recuerda que cuando ingresó a la Asociación Comunal no tenía negocio pero poco a poco incursionó en la venta de cosméticos y con el pasar del tiempo pudo conseguir un puesto fijo, ahora su meta es contar con más productos que ofertar a sus clientes.
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