The Communal Bank "Primero D. Mayo" ("First of May") is represented by Maria Ester. It is a new group that is maD. up of 14 members, some of whom already had worked with lending groups with our institution. The majority of the borrowers bake and distribute bread and pastries. Other borrowers sell cosmetic products, clothes, and shoes, and others offer cleaning services or work as caretakers. Competition is tough in the market and the members of the group know that if they want to have good sales they have to work hard for a good finished product and good merchandise. It is in this area that the Institution collaborates with them, providing the capital so that they can compete with new and diverse products. The borrowers have experience working with lending groups and they know that they must be responsible and make their payments on time to obtain loans. Only this way can they increase their income and improve the quality of life of their families.
El banco comunal "Primero D. Mayo" esta representado por la señora Maria Ester, es un grupo nuevo que esta conformado por 14 integrantes, algunas socias ya trabajaron con grupos solidarios con nuestra institución. Una mayoría D. la socias se dedica a la elaboración y distribución D. pan y masitas, otras D. las socias se dedican a la venta D. productos como cosméticos, ropa, zapatos y al servicio D. limpieza y portería. La competencia es dura en el mercado y los miembros del grupo saben que si quieren realizar sus ventas deben esforzarse para tener un buen producto terminado y buena mercadería para competir en el mercado, es aquí donD. la Institución coadyuva brindándoles capital para poder competir con productos nuevos y variados. Las socias tienen experiencia trabajando con grupos solidarios y saben que para obtener un financiamiento deben tener responsabilidad y cumplir con los pagos a tiempo solo así podrán obtener mayores ingresos y mejorar la calidad D. vida D. sus familias.
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.