Celia is 57 years old, married and she has 2 children, male and female, both adult. She has a grocery store. She is asking for a loan in order to buy soap, sugar, oil, soups, toilet paper, eggs, rice, soft drinks, chiles preserved in vinegar, and sweets. She began her business 8 months ago with a loan. Her business is important because it helps her buy food. She likes this business and feels useful. She likes serving her customers well so they return to her store. She feels happy to to see that her products are selling and she has income to buy food.
She is happy with the loan that she is going to receive because she is going to buy merchandise in order to expand her business and give better service to her customers. Her dreams and hopes are that the business grows and that her family is happy and healthy. The members of the group want to say thank you to Kiva and the Fundación Realidad: “thank you for your loans, we hope that you continue helping with loans for the growth of the businesses.”
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