Las Poderosas (The Powerful Ones) Group
Jorge Alberto is single and currently lives in an rental property. He works at his own events center and needs a loan to repair and improve his center in order to open it with food service on the weekends and begin a more prosperous business. His greatest desire is to be able to form a family with his fiancée and be able to provide a place of their own to live.
The other members of the group work in various activities such as the sale of clothing, the sale of cell phones, catalog cosmetics, vegetables, locksmith service, and public passenger transport. In spite of the high level of competition the members are known for their work and effort and the quality of service they provide to their clients. Many of the members want the loan to expand their businesses, to rent space for their businesses, and to purchase merchandise and supplies for their sales locations.
Regarding their experience, the members are in their first loan cycle with the institution and many do not have experience in group loans but they have a strong desire to work and get ahead by working to sustain their families and provide them with a better future.
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