ClosS. G. is the president of the group. He is a husband and father of 7 children. This hardworking dad sells a variety of products including cosmetics, notebooks, and artwork. As a result of his hard work and with the help of the previous loans, his business has increased profits. He is grateful for the experience because prior to the loan it was difficult to afford paying for the children’s food and schooling. The experience of borrowing has made these expenses more manageable. He also contributes his strengthened relationship and faith in God to his interaction with Esperanza and the staff. He realizes that his story isn’t unique in that there are many people in the area who are experiencing more success and are able to feed and educate their children. On behalf of ClosS., Renaissance and Esperanza we thank you for your support.
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