José Manuel sells fruits and vegetables in different open-air markets of the region. He has had this business about 8 years. He says that every day at 3:00 AM or 4:00 AM in the morning he leaves to buy some of the fruit he sells. He goes to the supply center in a little village that is near his town and the rest he grows in his back garden of avocados, guavas, loquats, limes, lemons, grapefruit, tangerines, apples, hot peppers, and other produce.
Jose Manuel is asking for a loan in order to continue investing in his fruit and vegetable stand and he will buy carrots, tomatoes, onions, green peppers, squash, peas, and chickpeas, and other items. He believes the loan is going to improve his business because he will have more supplies. His dream is to have his own vehicle, which can travel more rapidly with his products, and to not have to buy so many passenger tickets.
The other three members of the group are called José Luis, Antonio, and José Eduardo and all of them will use their loans to invest in their fruit stands, which help them to provide a better quality of life for their families.
Los otros tres integrantes del grupo se llaman José Luis, Antonio, José Eduardo todos ellos lo invertirán en sus puestos de frutas, para así darles a sus familias una mejor calidad de vida a su familias.
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