Genesis Group 5
Andres is 55 years old and married with four children, ages 25, 23, 21, and 16. His wife is also a client of Kiva and Esperanza and, together, they run a small general store out of their home selling men's and women's clothing, vegetables, chicken, and other provisions to their neighbors in the rural sugarcane community (called a batey) of La Higuera.
Today, Andres is looking to take out his 5th loan from Kiva and Esperanza so he can buy more clothing items, such as pants, shirts, and skirts, and food supplies for his retail store.
Andres' story is illustrative of his fellow group members' experiences with Kiva and Esperanza International. He reports that his life has improved considerably since becoming a microfinance client, and he hopes to sustain and grow his business in the future. Thank you for supporting Andres and the other members of Genesis Group 5 with your loan!
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