Cholitas Marinas Group
The group members have a variety of businesses, mostly food sales: Rosemary has a beauty salon, Maria Macedonia and Giovanna sell groceries, Alejandrina sells bread, Aparicia and Victoria sell prepared meals, Eugenia sells vegetables, Maria Antonieta drives a taxi, Meliza sells comforters, Mercedes sells clothing, and Fredy has a kiosk. Most of the group members have significant experience in their various lines of work, giving them an edge over the competition.
Most of the group plans to use their loans to buy more merchandise, or to offer a wider variety of products and services. Most of the group members have had previous experience with group loans at Pro Mujer and Crecer, other Bolivian 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