Las Margaritas Group
There is a fair amount of competition in all of these areas, but the group members remain competitive by quickly moving from market to market, offering a variety of merchandise and introducing new items frequently. Most of the group will use this loan to buy more merchandise to sell.
Since this is not the group's first loan, most of the group members have credit experience already. Other members have participated in previous group loans at other microfinance institutions.
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