Guadalupe is one of the members of the group. She is 39 years old and is in a civil union. She lives with her three children, who are 25, 11, and 2 years of age. She makes a living by selling second-hand tools in street markets. The loan will help her to supply the tools so she can increase her sales and be better off economically. Guadalupe wants to set up a first-rate hardware store in a few years because she wants to progress more with her business and because she does not want to neglect her children.
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