Sagrado Corazon Group
The group is involved in various economic activities: Elizabeth sells cleaning supplies; Julia and Julia Benita each work at and own a general store; Antonia and Lourdes sell bedcovers and bed pads; Juana sells sweets and drinks; Catalina sells dairy products like milk and cheese; Santa Nery sells fruit; Lidia works at a local cell-phone company store; Duglas is a mechanic; Marco Antonio is a reporter; and Edson does upholstery. The group members have different levels of experience in their businesses--some have been in business for just one year, while others, like Panfila, Santa Nery and Catalina, have been in business for 20 years.
Most of the group members will use their loans to purchase more merchandise to sell. There is a fair amount of competition in all of these areas, but the group members manage to stay competitive by offering a wiD. variety of merchandise and introducing new products. Most of them have experience with previous loans, both with the Sagrado Corazon group and with other groups at similar microfinance institutions in Bolivia.
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