Progreso Okinawa Group
The credit will be used in the acquisition of raw materials, consumables and tools to make products in less time and with better efficiency and quality to offer in the market. Despite the fact that this is their first loan cycle, they already have experience with solidarity groups thanks to credit from other institutions similar to Fundación Agrocapital. They are appreciative of your confidence and economic support that helps them to accomplish their goals and raise their income helping provide a better education for their children and 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