Peña Blanca Group
Emilia is in a group of people who are asking for a loan to improve their businesses. The group is called “Peña Blanca” (White Cliff). She works making crafts and also has a peach and avocado orchard that’s she’s been working hard at for five years already. She says that she’s already had several harvests that she sells by the bucketful to the wholesale food market in Zitácuaro thus earning more. She also sells the peaches and right now she’s asking for a loan to buy organic manure and insecticide to improve her trees. She says that thanks to the loans she’s gotten from the loan company she’s been able to improve her orchard since she used to just own the land but didn’t grow anything on it. Thanks to training they gave her on how to improve her quality of life by means of the loans she started to work her land and improve her profits.
She had four children but only two who are attending primary school still live with her; the others are married. The other group members are Catalina, Gerarda and Elodia. They will invest in their businesses. They will buy stock merchandise for the grocery store, will buy supplies to improve the avocado orchard and will buy supplies needed to make crafts.
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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