To supplement her family’s income and help her husband fend better for the children, Jesila plans to start selling women’s clothing for a couple of months. She says that each day, after preparing breakfast for the family, she’ll be visiting her friends and other people of the neighborhood in order to sell her products. Jesila is very confident and says that she knows how to convince people to make them accept a product.
The entrepreneur is expecting an improvement of her family’s lifestyle as a result of her new business.
The other members of Jesila’s group are:
Cristina L. L., a clothing retailer
Felicia L. B., to buy perfumes and beauty products to add to her stock
María G., to replenish a small clothing store
Zelandia L. L., to buy perfumes, hand and body lotions and cosmetics.
Photo. Left to right: Zelandia, María, Felicia, Cristina Y Jesila.
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