Abaroa Okinawa Group
Mrs. Santa María is employed by a firm; she is in charge of the final packing of the finished product. She has three children, who she supports together with her husband. Because the firm she works for is currently modernizing its machinery she thinks that she might be replaced by one of them. She wants to set up a beverage and turnover stand in her doorway or, if possible, set up on one of the town’s main avenues to have better sales. For this to happen, however, she needs capital and this is why she’s asking for a loan to start her new business which, for the time being, she can operate outsiD. her normal employment hours.
The rest of the members are involved in various commercial activities like: hamburger sales, bread sales, food sales, cosmetics sales. Competition among them is really difficult, especially in food and cosmetic sales, because every member expects good results from her daily sales.
The loan will be used to stock their stores, buy more products and offer better services to their customers so that they will have more income and a better economic situation in the future.
As this is a new group, they have received training and they are happy and satisfied to be clients of Agrocapital although some of the members already have experience thanks to similar loans with other entities.
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