She sells barbecue and ‘menudo’ [traditional Mexican soup made with beef stomach in a clear broth or with a red chili base] in a stand; she’s been in business for four years and works Monday to Sunday.
She mentions that the loan will help her invest in her business. She also says that she wants to introduce more variety of food because her stand is located in a good spot and she wants to repair the pick-up truck they use to transport the things for the stand and to stock up on raw materials. Her husband became unemployed several years ago and both of them now work in the same business because they do quite well.
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