Latest investment in Florida Group, La Paz / El Alto, Bolivia via Kiva.org
The loan that they now will take is for the increase of capital (buying wholesale fruits) that will acquire better sellers in the city of La Paz and later will commercialize her selling space. This way of working allows her to generate resources to support her family financially, since she is single and has a child.
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.
Loan information source from www.kiva.org