The members of the community bank 'Union and Progress' are represented by Mr. Hernando and 13 members, all with AA rating due to the fact that they are in their third loan cycle, demonstrating punctuality, responsibility, and unity in the group. A large majority of the members work selling clothing, books, groceries in neighborhood stores, food, and bricks and making articles of all types of clothing.
In the time they have worked with the group they have demonstrated that they are capable of moving ahead despite any adversity or competition in the market since they know how to work.
The new financing is for the acquisition of merchandise, supplies, and primary materials to continue expanding their businesses in order to give a better quality of life to their families and be able to pursue a better future for their children.
Los socios del banco comunal “Unión y Progreso” esta representado por el señor Hernando y 13 miembros todos con calificación AA debido a que ya van cursando su tercer ciclo demostrando puntualidad responsabilidad y unión en el grupo. Una gran mayoría de los socios se dedican a la venta de ropa, libros, abarrotes en tiendas de barrio, comida, ladrillo y a la confección de prendas de vestir de todo tipo. En el tiempo que trabajaron con el grupo han demostrado ser capaces de salir adelante a pesar de cualquier adversidad o competencia en el mercado ya que saben como trabajar. El nuevo financiamiento es para la adquisición de mercadería, insumos y materia prima para seguir agrandando sus negocios para darles una mejor calidad de vida a sus familias y poder perseguir un mejor futuro para sus hijos.
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.