Sègbégnon Claire's Group
Sègbégnon Claire left school at the elementary school. In order to cover her daily expenses, she has been selling food products for the past seven years. She stocks up at a local market.
In order to satisfy her customers' demand, and to maximize her profits, Sègbégnon Claire has requested and obtained a micro-loan from Finadev, along with the other member of her group. Sègbégnon Claire is the woman featured on the left side of the photo.
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