The group named "Solitarios" is represented by Lidia and it is composed of 16 new members. They all live in the same district, they know each other, and they are responsible. Most of the members are involved in sales of products such as prepared foods, soft drinks, cosmetics, perfumes, clothing, and in public transport. There is a great deal of competition but the members have a great deal more experience and they know how to make their businesses prosper, offering various high quality products. The loan they are requesting is to be used as working capital to invest in their business so to increase their earnings. This all tranlsates into a better quality of life for their family, improving more and more every day. They are very grateful for the trust that has been granted, and have even greater strength to work hard. The members are currently on their first loan cycle, although they have participated in groups before. They promise to give all that they are to prosper responsibly, and together.
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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