One of them is Josefina, 38. She's married and has two children, ages 10 and 19. She makes a living selling jewelry and sweets. She began four years ago selling a few sweets. It went well for her and she kept on stocking more all the time. Later she added silver jewelry and a snack bar with machines for her young customers. Her dream is to have a locale to sell traditional sweets.
This is a good group and they want to continue with their loans as they have up to now.
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