Théodora has a shop in which she has been selling cereals, canned goods, mayonnaise, packets of spaghetti, biscuits and other items for several years. She gets her supplies at one of Benin's markets, and from abroad. In order to increase her turnover and to be able to respond well to her customer demand, Théodora has requested and received financial support from Finadev, so that she can maximise her interest and expand her business,
Théodora is on the left of the photo.
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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