The group president is Francisca, who is 34 years old and has had a business selling meals for the past four years. She launched the business on her own initiative. Francisca works in La Ceja neighborhood of the city of El Alto each day from 9am to 3pm. She uses the income from her business to pay for the basic needs of her five children.
She needs this loan to buy ingredients like rice, noodles and potatoes.
The other group members have different businesses in the production, service and commerce sectors.
La presidenta es Francisca de 34 años tiene el negocio de venta de comida, el cual emprendió por iniciativa propia hace 4 años aproximadamente. Francisca vende en la Ceja de la ciudad de El Alto todos los días de 9 de la mañana a 3 de la tarde. Con los ingresos que se genera puede cubrir las necesitades básicas de sus 5 hijos. Ella necesita el préstamo para comprar insumos como arroz, fideo y papa.
Las demás integrantes de este grupo tienen diferentes negocios que se dedican a la producción, servicio y comercio.
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