The members of Carmen Group have close ties and many of them belong to the RivA. M. family. The members live in different parts of town, but meet up in the same house for their group meetings. The members run a variety of different businesses including the sale of cosmetics, costume jewelry, meals, and groceries. Some of the other members make clothing, one works as a radiology technician, and one drives a school vehicle. Though there is competition in all of these industries, the members hope that the loans will help them surpass other businesses in their industries by buying more inventory to make their businesses bigger. The majority of the members have previous experience taking out loans and are looking forward to pushing their businesses to the next level with future loans.
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.