The Fatima 1 group is maD. up of nine women and three men who live in the tropical Santa Cruz region of eastern Bolivia. The group members are involved in a variety of economic activities: they sell cosmetics, food, clothing and shoes, and work as seamstresses, taxi drivers, and construction workers. Most of the group members have between one and five years of experience in their respective businesses, with the exception of Richard and Carola (who work in construction and fruit sales, respectively), who each have fifteen years of experience.
Most of the group members say they plan to use their loans to buy more merchandise to sell or to buy tools for their businesses. This is the group's first loan cycle, though many of the members have had previous experience with group loans at 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.