The women have different businesses like selling new clothes for adults, selling underwear, selling groceries, and selling food. Some of the businesses are in fixed locations, and others are street vendors. There are competing businesses, but the women have loyal customers who buy from then constantly. In the event that they have difficulties in their business, they diversify their commercial activity to obtain income.
Some of them start to work part time with a fixed salary, and they take care of their business the rest of the time. The members want to take advantage of offers by Avon, Ebel, and Ésika, and they want to buy more clothes and supplies (rice, noodles). The president would like to have an established business in the future so that she would not have to sell her products as a street vendor. She would also like to obtain a better future for her children.
This group is in its third cycle. They know each other very well. Only four members are participating in a third cycle.
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