Nancy used to sell automobile oil, but with the passing of time this business did not generate enough income. She decided to change businesses. She now has a grocery store. She sells rice, noodles, and flour. She needs a loan to have more merchandise for her store.
Like Nancy, the other members of Gaviotas have their own businesses like selling clothes, stuffed animals, and food. They need the loan to be able to buy merchandise (mantillas, underwear, rice, and noodles).
Al igual que Nancy las demás integrantes de “Gaviotas” tienen sus propios negocios como la venta de ropa, peluches y comida y requieren el crédito para comprar mercadería (mantillas, ropa interior, arroz y fideo)
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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