Martha has a restaurant in Gayaza that has been operating for eight years because of the good service and meals that she offers. She is able to make $27 in profit a week, and this helps her in running her home, restocking her business with more food, buying needed utensils and paying her rent.
Martha wants to educate her children through the University, which she has been working toward ever since her children were young.
At this time, Martha needs a loan to help increase her stock of rice, maize flour, beans and so on for expanding her business operation.
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