Cécile is specialized in the sale of various products, and her customer base consists of both men and women, usually retailers. She buys her goods at one of the local markets and she would like to increase her profits.
As she would like to expand her business, Cécile has requested a micro-loan from Finadev, along with the other member of her group. In the photo, Cécile is featured on the left.
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