El Aguacate Group
She tells us that she goes to the marketplace daily to buy fruit to later sell from her home, and sometimes in the market of a town near her own. She says she is asking for a loan to buy manzano chiles, cilantro, avocados, radishes, peas, fava beans, lentils, peaches, guavas, and other seasonal fruits. She says one of her dreams to have a permanent store in her home because at her age she gets very tired walking with pails full of fruit, and she would like to set up a general store and also sell seasonal fruit.
She says, "Thanks to the financing my business has grown little by little." The other eleven members of the group are Angelina, Rosalba, Emilia, Brenda, Alondra, Juana, Blanca, Maria Santos, Yolanda, Maria Cristina, and Alicia. They invest their loans in seasonal fruit and legumes, basic necessities for supplying the home, cosmetics and perfume for resale, shoes and clothing by catalog order to sell, and building materials to sell.
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