Colke Chuyma Group
Ceferina L. is the president of the group called "Colque Chuyma". She is 39 years old and has been selling food for 5 years. Ceferina will use her portion of the loan to purchase ingredients such as potatoes, rice and noodles. The other members of the group also run their own businesses selling sweets, vegetables, ice cream, cosmetics and linen. They will all share in this loan to invest in their respective businesses, purchasing the necessary ingredients and merchandise.
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