The other members sell cosmetics, produce macramé fabrics, manufacture clothing, prepare food, and perform manicures. The men are involved in public transportation. Even though they face much competition, the members have loyal customers. Despite the difficulty of their jobs, they enjoy their work and continue to do so because their families depend on them.
Their loan will be used to increase their supplies for their work as well as acquire attractive merchandise for sale. Other members need the money to infuse new capital into their businesses since they have invested enough of their own money to secure vending locations. Therefore, they depend on Fundación Agrocapital for additional financial support.
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