The “Sol Naciente” (Rising Sun) group, represented by Ms. R. Gertrudis, is in its second loan cycle, having responsibly fulfilled its obligations with the foundation. In general, the members of the group sell food, clothing, crystal, plastic and vegetables. Other members make clothing and footwear, while still others proviD. auto mechanic services and other public services. This group loan will be used to increase merchandise for the members’ businesses. They will also purchase tools to improve the quality of their products. The members have experience with solidarity groups, so they understand the responsibility needed to obtain this loan.
EL GRUPO "SOL NACIENTE" REPRESENTADAS POR LA SEÑORA R. GERTRUDIS CURSAN SU SEGUNDO CICLO CUMPLIENDO CON LA FUNDACION EN FORMA RESPONSABLE Y CUMPLIDA. EN GENERAL LAS INTEGRANTES DEL GRUPO SE DEDICAN A LA VENTA D. COMIDA, ROPA, CRISTALES, PLASTICO, VERDUAR, A LA ELAVORACION Y CONFECCION D. RENDAS D. VESTIR Y ZAPATOS ASI COMO AL SERVICIO MECANICO Y AL SEVICIO PUBLICO. EL DESTINO D. CRÉDITO D. ESTE GRUPO ES PARA INCREMENTAR MERCADERIA D. SUS NEGOCIOS Y A LA COMPRA D. HERRAMIENTAS PARA MEJOR LA CALIDAD D. SUS PRODUCTOS. lOS SOCIOS TIENEN EXPERENCIA EN GRUPOS SOLIDADRIOS POR LO QUE CONOCEN D. LA RESPONSABILIDAD QUE SE NECESITA PARA LA ADQUICICION D. ESTE FINANCIAMIENTO.
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.