Canal De Bendicion 6 Group
Mariluz M., the group coordinator, has 3 children (ages 11, 9 and 4). She sells two different things: candy and snacks, which she sells from a palatera (a small market stand) and chorizo (a type of sausage). This loan, which is Mariluz's very first loan with Esperanza, will allow her to purchase merchandise for both of her sales.
However, Mariluz does not intend to remain a seller. She intends to learn beauty culture and open a beauty salon in the near future.
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