Nuevo Horizonte Group
The group is maD. up of 10 members, of whom 3 are men and 7 are women. Half of the members sell snack food, the rest sell groceries and have a computer business. Marisel Shirley, the president of the group, has been a wholesaler of telephone cards for the past 10 years. Julia has had a snack business for 15 years. AyD. has a snack shop and has also had a general store for 10 years. Leoncia has been selling groceries for about 20 years. Amanda has had a business for 6 years. Marcia Olivia has sold shoes for 3 years. Maria Angelica sells clothing and has been in this business for 20 years. Ross Aurelio has been selling computer equipment for 6 years. Freddy has had a small restaurant where he offers lunches and other meals for 23 years. Nestor Hector has been making glass for 15 years.
As you can see, in general the group has a great deal of experience in their respective areas. As with all businesses in the country, there is competition, but the good thing is that each group has its season. This group is going to invest in order to make money during the Carnival parties. The loan will be used to purchase more merchandise to stock a business such as a snack stand, or for a person who makes meals to have a stand in the market. The people with computer businesses will purchase accessories that they will sell, the glass maker will purchase frames and glass for sale and for his monthly jobs.
The business people who request loans from Agrocapital hope to improve their businesses with the help of the loan. They hope to improve their children's education, improve their quality of life, and to grow and expand their businesses. The members of this group are experienced with loans and are very accustomed to working with loans as they already know how to use them in their businesses.
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