The only women who are in a different line of work are the president who sells food to the employees of the business, and some who sell soft drinks and food in the street. There is not much competition in this field for the women as each one receives pay for her work and the effort she puts in.
They plan to use the loan money to build a structure from which they can sell food, to buy electrical appliances, and to start small businesses selling candy and food from carts in the street.
Although this is their first loan cycle, many of the members have been part of other groups in the past and know how the system works. They are happy to have this financial support to help them improve the quality of their children’s and family’s lives.
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.
188View loans »