Las Hijas De Jesús Group
The competition within their areas of commerce is high, but in spite of this they know how to keep their businesses going. The loan will be used for growing their businesses with the purchase of merchandise, raw materials, and tools to increase their incomes further, which would allow them to give their families a better quality of life.
As for the women's credit experience, they are beginning their first loan cycle with the institution, but they are glad that it offers them the economic support to help them generate greater incomes and improve the quality of life of 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