They have a variety of businesses; for example, María distributes food to neighbourhood stores; Richard sells car tires and other accessories; other members sell food in snackbars and stalls or own stores in the neighbourhood. They want to increase their sales and are asking for this loan to buy goods in bulk so that they can generate higher revenues.
Diversos son los negocios que tiene la asociación, por ejemplo María reparte víveres a tiendas de barrio, Richard se dedica a la venta de llantas para automóviles y otros accesorios, además también se dedican a la venta de comida, en snacks y puestos, otras socias tienen tiendas de barrio. Desean ampliar sus ventas, por lo que necesitan mayores créditos para la compra de productos en mayor cantidad, de esta manera generar mayores ingresos.
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