The Gran Poder (Great Power) group is maD. up of 16 women and three men who live in Sucre, Bolivia. Most of the group members are mothers and have children who are five or older. The group members each have their own businesses: some sell cosmetics, clothing, cold cuts, or cell phones; others work as seamstresses, drivers, and cooks. Most of the group members have between one and five years of experience in their respective businesses. Aleida and Porfiria each have 10 years of experience (Porfiria owns a bus, and Aleida repairs cell phones).
The group members will use their loans to buy more merchandise to sell or materials to produce their various products. The group does not have any previous credit history, either with AgroCapital or at other financial institutions. Their loan officer describes the group as very enterprising and experienced.
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.