Mujeres Creativas Group
Norma is one of the members of this group. She is 32 years old, is married, and has 3 children aged 16, 13 and 3. They are all in school. For approximately 10 years, Norma has sold a variety of items at street markets such as: cosmetics, toys, novelty items, etc.
The loan has helped her a lot and now she is going to pay for a big order of handbags that she has outstanding. Her husband helps her sell on Saturdays and Sundays which are his days off. She says that she is thinking of continuing to sell in markets and hopes to continue growing in order to help her husband with the household costs as well as supporting her children with their studies.
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