Dos De Mayo Group
This communal bank has 10 members (the extra person in the photograph, second from the left in the top row, is not a member; she attended the meeting together with her daughter, who is a member). The members of "Dos de Mayo" are requesting a total loan of 2800 Nuevos Soles; each member will invest her share in her respective business. The women dedicate themselves to selling the following different items: candies, charcoal, cooked food, fruit, hot dogs and French fries, fish, soft drinks, cheese, and basic grocery goods.
The members of "Dos de Mayo" are grateful to Manuela Ramos for their loan and are pleased that the organization has confidence in them. They are dedicated to furthering their businesses and making their loan payments responsibly and on time.
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