18 De Agosto Group
The loan they are requesting will be used to augment their working capital and expand their small businesses so that they can increase their earnings. This translates into a better quality of life for their families, which continues to improve each day. They are grateful for the confidence placed in them to continue working harder. The members are starting their first loan cycle together, but they have previous experience working in solidarity groups. Therefore, they promise to give it their all and move forward with responsibility and unity.
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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