In their work, the members deal with supply, demand, and competition; everything depends on being able to offer quality products at a low price, and the capacity to overcome any obstacle. The loan will be used to buy consumables and materials to improve their businesses and increase earnings to improve the quality of life of their families. Within the group are members who have experience working in solidarity groups. Others are receiving a loan for the first time but feel capable of meeting the requirements of their group and Fundación Agrocapital, which is providing them this opportunity for financing, and the great advantages it offers.
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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