La Paz De Dios (The Peace Of God) Group 1
Candida has a small “colmado,” or mini-market, where she sells various food products including chicken and vegetables. She buys packaged food from a warehouse in El Seybo, the chicken from a chicken vender and the vegetables from the market. She then transports all her purchases home to her community where she sells them to her neighbors. The hardest part of her business is having to transport so much from El Seybo to her community, using only a motorcycle.
Candida has successfully repaid five loans to Esperanza International and is now requesting her sixth loan. With this loan of $2000, she hopes to continue growing her small colmado and support her youngest in school. In the photo, she is at a meeting with the other four members of her group so that her loan officer can prepare to give them another loan.
Note: This is a group loan for five people. The loan funds will be distributed among the group members, each of whom will invest in her own business. The members mutually guarantee one another's loans. If one member does not repay, the other members are responsible.
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