Irene C. is 48 years old and she has three children. One of her children is married, and she takes care of her grandchildren in the mornings. In the afternoons Irene sells samosas from a cart in San Francisco. She has been selling for 17 years and it is with this business that she has been able to support her children. She requires the loan to purchase flour, an ingredient she uses to prepare her samosas.
The other members fo the group also have their own businesses, including shoe sales, soft drinks, clothing, local shop manager, crocheting and catering,, and they all need a loan to purchase more merchandise and ingredients to keep their businesses running.
Las demás integrantes de grupo también tienen sus propios negocios como la venta de calzados, refrescos, ropa, atención de tienda de barrio, tejido de mantas y venta de comida y todas necesitan del préstamo para comprar mercadería, materia prima y seguir operando en sus negocios.
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