Bénédicta Baï's Group
Concerned about increasing her working capital and responding favorably to the demands of her customers, she and her teammate requested and obtained a micro-loan from Finadev with the aim of maximizing her profits and helping to cover her children's schooling costs.
Bénédicta is the one found 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