16 De Julio Group
Competition in these areas is high, but the experience of the group members helps them succeed, since their families depend on them. The loan will be used to increase their merchandise, materials, supplies, and to acquire and repair tools for work.
The members have minimal experience in group loans, but they have the will to work and succeed, which is why the Fundación Agrocapital is extending them this loan so that they can give their families a better quality of life.
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