This group is made up of two women who are taking a solidarity loan together, offering mutual guarantee to each other.
The representative of the group, Rosemonde, is 30 years old. She is married and the mother of three children who attend a local school. Her oldest and youngest children are 14 and 10 years old respectively.
Rosemonde has been selling "pagnes" (colorful West-African fabrics) and various other goods for a few years, stocking up at a market in Benin.
Eager to expand her business, and to be able to meet her customers' demand, Rosemonde has requested and obtained a micro-loan from Finadev. Thanks to this loan, she will be able to maximize her profits and to contribute to her children's education.
Rosemonde is the woman featured on the left-hand side in the photo.
Il s'agit d'un groupe composé de deux personnes en caution solidaire. Rosemonde la responsable est âgée de 30ans. Mariée et mère de 03enfants scolarisés dans une école de la place. L'aîné et le benjamin ont respectivement 14ans et 10ans. Elle commercialise des pagnes et de divers depuis quelques années puis s'approvisionne dans l'un des marchés du Bénin. Dans le souci d'élargir son commerce et de répondre favorablement à la demande de ses clients, Rosemonde a sollicité et a obtenu un micro crédit à Finadev en vue de maximiser son bénéfice et de participer à la scolarisation de ses enfants. Rosemonde se retrouve à gauche dans la 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.