Bernadette Sica's Group
With the aim of increasing her sales and bolstering her business, she requested and obtained a micro-loan from Finadev with the goal of satisfying customer needs and making the most of her investments. The surplus will enable her to help with her children's schooling costs and to diversify her business. She would like to help out her husband in renovating their house, which is in ruins.
Bernadette Sica is at the left in 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