Nueva Semilla Group
The women in the group work in a variety of businesses, including selling maca (Bolivian root vegetable) juice, clothing, food, sweets, pickled vegetables and other foods.
This is the group’s first loan cycle and its members are very excited to work with AgroCapital because of the collaboration's potential benefits, especially the opportunity to expand their businesses. Since the women already know each other from having worked together in group banks at other financial institutions, they know how to support one another. According to the group evaluation done by their loan officer, they are very united and hardworking, so good results are to be expected.
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