She started selling candy outside her house 8 months ago and then started selling frozen pops and then opened a grocery store; all of this was thanks to the loans. Now the current loan will help her open a stand to sell grilled chicken. She will buy a grill and start to build a structure for the new business.
Carmela is moving step by step. She wants to lay a slab for the business because it’s currently in a lean-to and when it rains and the weather is bad it tends to get very wet.
This group has outstanding members who are very responsible and want to get ahead for their families.
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