Nuevo Porvenir Group
She has a business making patterns on different items like key chains, glasses, clothes, and others. She needs a loan to buy supplies like canvas, fabric, and paint. At any given moment she receives large orders. She works with her husband who makes the products. She sells them or gets the orders. Her store is in the city of La Paz on the Calle Murillo.
Carmen also likes the savings. She says, “You save without feeling it, and you can uses these savings for emergencies”.
The rest of the group members, like Carmen, have their own businesses like selling mittens, hats, dried food, quilts, and food. They all need the loan to buy merchandise and supplies.
Al igual que Carmen las demás integrantes del grupo también tienen sus propios negocios como la venta de manoplas, sombreros, alimentos secos, colchas y comida. Todas necesitan del préstamo para comprar mercadería e insumos.
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