Maria, president of the association, explains that this is her second cycle with Pro Mujer. Maria currently owns a clothes making business and with the loan she will buy fabric. She sells her products from Monday to Saturday in Larecaja street.
In the picture we can see that Flora, one of the members, is missing. She had to leave in a rush to open her business.
La señora María, presidenta de la asociación comunal, indica que es su el segundo ciclo con Pro Mujer. En la actualidad la señora María tiene un negocio de confección de prendas y con el crédito que sacará ahora será para la compra de tela. Estos productos los vende en la calle Larecaja de lunes a sábado.
En la foto podemos ver que falta una de las socias, ella es la señora Flora, que conto que estaba apresurada para abrir su negocio
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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