Vilfi L. is the representative for the communal bank "Las Palmas." The bank is located in the San Juan D. Dios neighborhood, where all of the members live and know each other. There are family ties between Mrs. Velfi L. and Mrs. Augusta; they are first cousins, however they maintain independent incomes.
All of the group members have small businesses that sell things like cosmetics, food, bread, plastic tubes, shoes, clothing, as well as businesses that proviD. services like tailoring and clothes laundering. Within this commercial area there is a lot of competition, especially with importing name brand products. The purpose of these loans is to diversify their products in order to give them an advantage over the competition. Also, they will buy material and work tools to improve their products. The members have experience with solidarity groups because of their experience with organizations similar to the Agrocapital Foundation.
El banco comunal "Las Palmas" esta representado por la señora Velfi L. y ubicado barrio san Juan D. dios donD. todas residen en el mismo barrio y se conocen entre si, existe un parentesco familiar entre la señora Velfi L. y la señora augusta, ellas son primas en primer grado, pero ambas tienen ingresos independientes. Todos los miembros del grupo tienen sus pequeños negocios D. venta D. productos como cosméticos, comida, pan, tubos D. plásticos, zapatos, ropa y a actividades como la confección D. prendas D. vestir y al servicio D. limpieza. Dentro del ámbito comercial existe gran competencia en especial con la importación D. productos D. marca. El destino del financiamiento es para la diversificación D. sus productos para hacerle frente a la competencia y a la compra D. material y herramientas D. trabajo para mejorar sus productos. Las socias tienen experiencia en grupos solidarios por la experiencia en entidades similares a la fundación agrocapital.
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.