Señor De Milagros 2 Group
Andrés is a member who stands out in the group. He is a bricklayer, and he is a very hard-working man. During the day he works on big jobs with contractors, and in the evenings he works on small jobs in private houses. His wife helps him in order to be able to get greater income and give their children a better quality of life. He lives in a rental until he is able to get together the money to buy a lot and have his own house. To do this he needs to keep working to fulfill his dream. Andrés will use the loan to buy tools to put down tiles and be able to do more jobs in less time.
The other members of the group work at different commercial activities like selling chicken, selling yogurt, selling meat and vegetables, a store, carpentry, and one member is a mechanic. Competition exists, but the members are well known because they have lived in the area for over 25 years, and they have established customers.
The loan is for operating capital and investment in their businesses. In the future they plan to expand in the market from where they are with us. Most of them have experience with communal banks thanks to loans with entities similar to the Agrocapital Foundation.
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