With this loan, Betty hopes to purchase more stock; that is: beers, soft drinks like sodas, and wines in order to meet the increasing demand from her customers. This will fetch her more profits, enable her to sustain her family needs, and motivate her to go for her dream of starting up a beer depot.
Betty belongs to a group of thirteen members who hold each other accountable and insure one another in paying back the loan because they want to access the future successfully.
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