The members mostly work in the commercial sphere, selling products such as food, clothing and cosmetics by catalogue, or offering public transport services. In terms of competition, it can be said that the members are conscious of this, and they also mention that their capacity to manage credit well helps them to improve their businesses and increase their income.
This loan will be used to expand their merchandise, buy materials for work, and buy tools to better carry out their services. The members say that they have previously received loans from other similar financial entities, and a majority of the members have previously participated in other groups with the Agrocapital Foundation, thus demonstrating responsibility and commitment in making their repayments.
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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