Dulce is one of the members of the group. She is a 20 year old young woman, and she is in a common-law marriage. She has two children, ages three months and one and a half years. She sells clothes. She started two years ago selling used clothes at market. The loan will help her to invest in more clothes.
Laura is a good saleswoman, and she likes it. One day, with her earnings, she wants to have a clothes place in the center of the city.
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