They came together as a group approximately 3 years ago because of a need for capital that would allow them to improve their businesses. A clear example is the business of Primitiva T., who is 48 years old and supports her three children by herself, since she was widowed two years ago. She sells clothing, such as t-shirts and shorts, which she brings to los Yungas (a warm climate). She needs to increase her inventory, for which she requested the loan.
Se agruparon hace aproximadamente tres años por la necesidad de contar un capital que les permita mejorar sus negocios. Un ejemplo claro es lo que hace Primitiva T. de 48 años que sola mantiene a sus tres hijos ya que enviudó hace dos años, ella vende ropa como poleras, shorth y los lleva a los Yungas ( lugar cálido) y requiere incrementar mercadería por lo que solicitó el préstamo.
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