Las Persistentes Gb Group
One example is Ernestina, 42 years old, married with 5 children. She has sold stuffed animals and toys for 25 years in different markets with the help of her children. Now she needs more capital to buy toys for the holidays at the end of the year. She also indicates that she likes the group form of credit for the solidarity guarantee that doesn't need other requirements to apply for a loan.
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