Siempre Amigas Group
José Antonio works in his small tailoring shop, located in the market of the city of El Alto. He is the father of three boys, two of school age and one in the university. His wife sells food and soft drinks at the stop for the minibus 36. Together they support their family. Their only desire is to help their children get ahead in life and give them a better quality of life. The loan is to buy materials for work because José Antonio has a big order and he needs to buy fabric to make uniforms.
The other members work in different kinds of businesses, such as sewing sports clothing, selling oil, selling aguayos [type of traditional cloth], selling clothing, selling plastics, and transporting passengers. The members trust in their abilities and in the charisma they have developed in order to sell their products. They offer quality products to the market, which is why competition isn’t much of a problem, because they have a true desire to work. The loans are for increasing their capital, buying merchandise, ingredients, raw materials, and in some cases, parts for machinery.
The communal bank is already in its fourth loan cycle, demonstrating responsibility and a true desire to get ahead, growing each day for the benefit of their households. To clarify, some of the members in the photo are pictured with their spouses.
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