Nuevo Renacer Group
The members do different economic activities, like selling clothing, cosmetics, shoes, jewelry, and the members participate in order to have their allowance of food. As in all commercial areas, there always exists supply and demand, especially in the commercial sector, but they know how to cope with the commercial ambiance.
This loan would be destined to increase merchandise and improve working conditions. The members don’t have much experience in working with solidarity groups, but it is a reasonably dynamic group and disposed to assume the responsibility that is implied in group finances.
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