La Fontaine 1 Group
The loan of 290 000 Burundese francs will increase her working capital and will be used to buy a large number of pagnes to resell to her female clientele at a good profit.
Francine is a member of the "La Fontaine 1" community group.
Le crédit Kiva de 290,000 francs burundais qu’elle obtient lui permet d’augmenter son capital et acheter beaucoup de pagnes pour femmes à revendre afin de réaliser de grands bénéfices.
Elle est membre du groupe communautaire« La Fontaine 1»
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