Success To One Group
For 24 years, Beatrice has been selling frozen meat on a table at the Red Light Market in Paynesville, Liberia. She renders good service to her customers, which keeps them returning. However, she faces problems with insufficient funds to do business.
Beatrice started her business with funds she got from her friends in her community. She plans to use her 6,000-LRD portion of this 30,000-LRD group loan to buy more frozen meat in order to increase her market size. Her goal is to build a shop for the betterment of her family
In the photo that accompanies this profile, Beatrice is holding the sign. And Hannah is inset at the lower left because her face was obscured in the original group photo, therefore her photo from her loan application form had to be taken.
Note on LEAP:During routine partner monitoring, Kiva learned that LEAP's delinquency data may be understated due to technical problems with their reporting software. Because this report is key to our analysis of the risk of this partner, delinquency or default rates on loans to this partner may be higher than we expect. For further details, see LEAP’s partner page on Kiva.
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