San Gabriel Group
Different types of businesses are represented in this group. For example, Norah sells jewelry. Others prepare and sell food from boarding houses and vending stalls. Some members sell aprons, furniture and groceries. The San Gabriel Association desires to increase their earnings since most of their children attend university. For this reason, they need to buy more goods and supplies to invest into their businesses so that they can increase their sales and generate more profits.
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