Las Valientes Group
The large majority of the members are very hardworking people trying to achieve success for their small businesses. The competition in the marketplace is high, and they need their earnings to maintain their homes, as most are supporting a family.
This loan will be used for the purchase of merchandise and the repair of vehicles used as public transport. Some members will also use loan money to improve their homes to provide a better quality of life for their families.
This is the first loan for this group, but several members have had individual loans so they know how to fulfill their obligations. They wish to advance their small businesses and offer a better quality of life for their families.
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