Eulogia C. is the president of "Abejitas" Group, which at the same time belongs to "German Busch" Focal Center. Eulogia sells fruit in different markets in the city of El Alto and she needs the loan to grow her merchandise. So, with some of her neighbors and friends in the neighborhoods of Ingavi, German Busch, and Mercurio, they formed a group. The other members have their own different businesses, such as selling food and chocolate, while others dedicate themselves to service-oriented businesses, such as polishing shoes, transportation, and weaving blankets.
The group hopes to remain together for a long time and make use of the services Pro Mujer offers, such as trainings and office hours.
El grupo espera permanecer mucho tiempo juntas y hacer uso de los servicios de Pro Mujer como la capacitación y la atención en consultorio.
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