San Sebastian Group
Modesta is a 32-year-old woman who is in a common law marriage and has three children (two girls and one boy), all of whom are minors and are in school. Her husband is a carpenter and he has always supported her with her loan. Modesta earns a living by selling snacks from home. She has had the business for two years and it is going very well.
At this time she is thinking of selling tamales as she is going to stop selling bollos [a type of bread roll] and mangonadas [mango ice drink]. This loan will help her to purchase a steamer and the other necessary items to make tamales.
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