The solidarity group is formed by three entrepreneurial women partners. One of them is Gema, who is 25 years old and single. For the last two years she has made a living by selling Avon cosmetics and Arabela products. She sells these via pre-order in her community, and will use the loan to buy Avon cosmetics like perfumes, face cream, body lotion, hand cream, etc.
Jennyffer sells steel accessories like earrings, bracelets, pendants and rings, and Vilma sells Avon cosmetics and new clothing.
Grupo Solidario formado por tres socias emprendedoras una de ellas es Gema de 25 años de edad, soltera que hace dos años se dedica al comercio de cosméticos Avon, productos de Arabela. Estos los vende por encargos en su comunidad, el crédito lo utilizara en la compra de cosméticos Avon como perfumes, crema para la cara, cremas para el cuerpos, crema para manos etc. Jennifer vende accesorios de acero como aretes, pulseras, dijes, anillos, Vilma vende cosméticos Avon y ropa nueva.
Located in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.
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.