The members of the group have quite a lot of experience in their professions and titles and as such the competition in the market doesn’t scare them.This loan is destined for the purchase of materials and supplies for their commercial activities and the improvement of their professional tools in order to better the quality of their products.
This is the first loan that the members are requesting as a group but they trust their partners and feel they are able to fulfill the terms of their loan with Fundación Agrocapital, who offers them the opportunity to increase their revenue and improve their quality of life, along with that of their families.
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