The Progreso community group is part of a Panamerican regional center. This is their second loan cycle, and the majority of the members are requesting it to revamp their savings. In this way, each member can double the money they infuse into their business: from their personal savings and from the loan. There are 10 group members, nine women and one man. The extra man in the photo wearing a black jacket is the husband of another member. The members' businesses are varied: weaving blankets (which multiple members do), selling shoes and clothing, construction, selling french fries, and grocery sales. Susana M. continues to be in charge of the group as president. She says that her business making blankets out of vicuña wool, which is similar to llamas and alpacas, needs to raise capital since the cold seasons of fall and winter are approaching and her products will be in high demand.
La asociación comunal Progreso es parte del centro focal de Panamericana. Este es su segundo ciclo, la mayoría de las socias solicitaron recoger su ahorro y de esta manera cada socia tendría doble ingreso económico para impulsar el negocio: el del ahorro y el dinero desembolsado en el crédito. Esta asociación tiene 10 clientes, 9 mujeres y 1 varon. El varon extra que se encuentra vestido de chamarra negra es el esposo de una socia.
Los negocios de las socias son diferentes: tejido de mantas, venta de zapatos, albañileria, tejido de mantas de vicuña, venta de papas fritas, mantas, ropa, zapatos y abarrotes.
La señora Susana M. contínúa a cargo de la asociación como presidenta. Ella indica que su negocio de elaboración de mantas de vicuña necesita capitalizarse, pues se avecina la época de frio (Otoño e Invierno) y en la misma hay demanda de sus productos
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.