Mujeres Del Alba Group
The members of the bank hold their own in a competitive market, selling coffee, clothes, CDs, juices, cosmetics and footwear; assisting customers in the town's stores, making hats and skirts, buying and selling merchandise, running a grocery store, etc. Thanks to years of experience in the business, the competition does not affect their activities very much.
The group need a loan to purchase raw material such as cloth, thread and wool. They are very happy to work with Agrocapital, and are now in their fifth loan cycle. The majority of the group already know each other and have a lot of experience due to having participated in four previous loan cycles. They are a very happy and supportive group.
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