1Ro De Febrero Group
The member we are highlighting is Juanita. She has three children and her husband is a minibus driver. They live in a rented house at present. She takes in laundry at 6 bolivianos per dozen. She is very hard-working has had a difficult life. On Saturdays she makes sandwiches that she takes to the minibus stop where her husband works to sell in order to make a little extra for household expenses and perhaps save a little to buy a lot and proviD. a home for her children.
Juanita wants financing to launch a more settled food sales business because she does well on weekends selling sandwiches and fast food. Her greatest expectation is to acquire capital to buy a lot and build a house where her family can live peacefully not having to pay rent.
The rest of the group members are involved in the following: hamburger sales, food sales, cosmetic sales. Competition among them is quite difficult, especially in food and cosmetics sales, since each one expects a good result from her daily sales.
They will use the funds to stock their stores, to buy more merchandise, and to offer better customer service so that their business will earn higher income in the future and they will have a better economic situation as a result.
Because this is a new group, they have been given training and they are happy to be Agrocapital clients although some of the members already have some degree of experience thanks to loans they have with other similar entities.
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