One of the members of this group is Ma Juana, a mature woman, 56 years of age, married with 2 very good children. She works selling new and used clothing in travelling markets. She has been a trader for more than 15 years and her children help her to drive the truck to different markets.
The loan will help her to supply more clothes to sell. Ma Juana wants to continue to grow her business and maintain her loan. She says that they are a close-knit group and very good neighbours. They have known each other for almost 30 years, since they live in the same residential zone.
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