3 De Septiembre Group
This loan will be used to purchase merchandise, supplies and tools to assist in the growth of these businesses so that the borrowers can increase their incomes and give their families a better quality of life. As far as credit experience, these members are in their first cycle with the institution, but they are happy that it is providing them economic support that will help them to generate better incomes and a better quality of life for their families.
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