Mariamu is 32 years old, married, and has 5 children between the ages of 2 and 16. She became a charcoal seller in 2000. She works from 8am to 7pm at her business everyday and can earn a monthly profit of about $110 from her sales.
Mariamu now hopes for a loan to buy more charcoal for her business. She will share this loan with her subgroup members, who also have businesses dealing with food and clothing sales.
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.