Las Muñecas Group
Benita is a fast food merchant in street markets and does catalogue sales of clothes and shoes. She also has a beauty salon.
This loan will help her fulfill the orders she had received for shoes and clothes, stock up on beauty products for her salon and buy a barbecue, tortillas and vegetables for her food stall.
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