Mujeres Al Triunfo 3 Group
Constancia has had her business for almost five years. Using some savings and taking loans from other places. She started selling some grocery products from a small stall in her house. Now she has a colmado, a grocery store located in the neighborhood, where more of the neighbors buy their daily meals. Constancia will invest in her business by purchasing rice, beans, sugar, canned food, flour, and other goods. She will use the profits to save and reinvest in her business.
Her group is located in the urban slums surrounding Santo Domingo and is composed of 5 people.
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