Amistad Rsr. Group
María, who is group president, is married to Jorge; they have a son, who is in school. Her husband works as a radio dispatch taxi driver in La Paz to support the family. They live in a small house that they share with her siblings. María’s and her husband’s expectations is to gradually grow so that they can buy a small lot to have their own home. María sells home appliances in the market and needs funds to buy stock inventory items.
The other group members are in a variety of commercial activities, such as: clothing sales (for children, accessories, lingerie) either door-to-door or in fixed stands. One member makes and sells nets for arches and others sell food, cell phones and hardware items.
The group as a whole has quite a bit of experience in the various businesses they run and are well known in the markets where they sell their wares. Although competition is widespread the group has both the experience and the regular customer base that recognizes their work and asks for their services; on the other hand, the enthusiasm with which they do their work is noteworthy.
The current loan will be used for working capital. Some will buy more ingredients and merchandise; others will modernize their sales stands with tools that will facilitate their work.
The group’s expectation is to continue working and, above all, continue to count on financing to reach their goals.
The bank has quite a bit of credit history since this isn’t the first loan they have gotten. The present loan, for example, is the second one with our institution and they have demonstrated responsibility and honesty in their payments.
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