One of the oldest members of the group is Benedicta C. who unfortunately lost her daughter and must take care of her two grandchildren who are still minors. She weaves fabrics from the wool of vicuñas (a wild relative of the llama) and says that this business enables her to meet the expenses for her grandchildren.
Some of her fellow group members are also weavers, while others sell fruit, groceries, pants, backpacks, electronic devices and other items. They all indicate that they need a loan to buy raw materials or merchandise.
Algunas de sus compañeras también se dedican al tejido, otras de ellas venden frutas, abarrotes, pantalones, mochilas, artefactos electrónicos y otros. Todas afirman que necesitan créditos para la compra de materia prima o 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.
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Success!! The loan was 100% repaid