The group named "Kenedy" is represented by Matilde and it is composed of 13 members, most of whom have previously worked with a loan system. The members are involved in sales of products such as prepared foods, soft drink sales, baked goods, and clothing. The men provide public transportation. The competition they face is considerable but the members have a great deal of experience and know how to prosper their businesses, offering a variety of high quality products. The loan they are requesting is to be used as working capital to invest in their small businesses, and to increase their earnings. This translates into a better quality of life for their family, improving more and more every day. They are very grateful for the trust that has been placed in them and they are even more motivated to work hard. The members are currently in their first loan cycle but they have previous group experience. They promise to give all that they have to prospoer responsibly and together as a team.
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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