The business which the members of the communal bank run are varied: jacket making, fried potato making, sale of pork, neighborhood store, blanket making, weaving and decorating.
Susana is the President of the communal association. She indicates that she’s been part of the “Progreso” communal association for three cycles, approximately a year and a half. Her business is blanket crafts which she has done at home for about ten years now. Her sales are also home-based. This activity allows her to work while caring for her family.
The association had great expectations with regard to the loan. A woman who was thinking about asking for an additional loan is included in the photo.
La señora Susana, presidenta de la asociacion comunal, indica que forma parte de la
A.C. “Progreso” 3 ciclos, aproximadamente año y medio, su negocio es artesania en manta, el mismo es desarrollado en su domicilio desde hace diez anos aproximadamente, las ventas tambien son realizadas en su domicilio. Esta actividad le permite trabajar y al mismo tiempo cuidar de su familia.
La asociación tenía muchas espectativas con respecto al crédito, en la fotografía está incluida una señora que estaba pensando solicitar un crédito adicional.
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