"Rubi" has 11 members. The members have confidence in one another. The group is small and the women are cheerful. They take their commitments seriously and view their businesses optimistically. The members of "Rubi" are requesting a loan of 4800 Nuevos Soles in total, which each woman will invest in her business. This will be the second loan that the members have received from Manuela Ramos. The members of "Rubi" dedicate themselves to a variety of business ventures, including selling plantains, other fruits and vegetables, rice, handicrafts, fish, basic grocery items, and cooked food.
The members of this bank are pleased to be receiving economic support from Manuela Ramos. Manuela Ramos also gives educational sessions during each monthly meeting, programming which helps the women to continue developing their businesses.
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