Celestina Q. is the president of the community bank. She is a young woman, 28, just starting her own family with her partner. Celestina operates a vegetable sales business. She started the business a year ago and is now applying for a Bs.2000 (2,000 bolivianos) loan to buy wholesale supplies of vegetables to stock her business.
La presidenta se llama Celestina Q. es una mujer joven de 28 años de edad, está iniciando su hogar con su pareja, su negocio es el de venta de verduras. Ella realiza esta venta en un puesto desde hace un año, su solicitud de crédito es por Bs.2000.- para la compra de verduras por mayor y venta diaria en su puesto.
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