Las Pagadoras Group
The members do not have a big problem with the competitive field because they have years of working experience.
The loan is to buy materials, merchandise, supplies, and tools to help them improve their products and increase their income. This, in turn, will improve their families’ quality of life. The group is in its second loan cycle. They demonstrate responsibility and honesty by meeting their obligations.
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