Las Margaritas Group
The group members are involved in different businesses, mostly in sales: Marcelina, Lucia, Magda and Isabel sell cosmetics, Kelly has a bakery, Fabiola and Esperanza sell clothing, Rosa sells artifacts, Paola sells toys, Juan Carlos is in construction, Gloria has an Internet café, Vanessa is a stylist, and Roxana sells crafts. The members have different levels of experience in their lines of work. Most of them have had their businesses from one to three years, although Susana has been selling her merchandise for 12 years.
The group is taking out this loan with the hope of growing their respective businesses, and most of them will use the money to buy more merchandise to sell.
Most of the members have had previous experience with loans at other Bolivian microfinance institutions, such as Pro Mujer and Crecer.
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