To make a living, she sells homemade ice cream and ripe fruits, operating her business in the public school of the community. The entrepreneur says that it’s a profitable business, and that she would like to augment her production in order to increase both her sales volume and her income. Profits from her activity will allow her to pay for the children’s educations and to deal with some other financial issues.
Diluvina will take her loan with a group of four other women who all own businesses. They are:
Lidia F. P., who owns a cafeteria;.
Rosa P., who operates a small beauty products store;
Cruz Antonia M. G., who will purchase silver jewelry, and
Candida A. G., who will use her loan to buy jewelry.
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