The loan being provided will increase their operating capital to boost their small businesses, enabling them to generate more revenue. This will help them improve the quality of life for their families day after day. The members are thankful for the confidence placed in them to continue working harder. They are starting their first loan cycle together, but they have experience working with other solidarity groups. They promise to give everything they have so that they can press onward responsibly and in unity.
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