Blanca is one of the members; she is 35 years old, married, and has four children. She began selling fresh juice and snacks from her home three years ago, and this loan will help her to also start selling corn on the cob and increase profits. Blanca is currently remodeling the porch of her house to have more space for her business. Her husband helps her with the sales and during the day, they take turns looking after customers.
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