Inés is the featured member of the group. She sells flowers in the Chimore Senda 3 area. Her husband, Felipe, sells bananas (he takes them from the farm to sell). They have two children who are still young. Inés and her husband still live in her parents’ house. Her biggest desire is to be able to buy a piece of land to plant. She wants to progress and be able to give her children a better future.
The rest of the group works at different activities. Most of them work selling flowers, clothes, and fruits. The men work as mechanics, in transportation, in construction, and in farming. In general, the group has experience in the businesses they have. That is why they are well known in the entire area.
In general, there is a lot of competition. The group has regular customers who recognize their work and demand their products and services.
The current loan will be used as capital to invest in the purchase of flowers, materials, supplies, and work tools that will help to generate better income to support the members’ households.
The group’s expectation is to keep working and counting, above all, on the economic support of the foundation to help them grow. They want this in order to have a more stable home and a better quality of life.
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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