Renovacion Las Aguilas Group
Tania lives in Santiago, a crowded city that suffers from severe rainwater drainage problems. The income from her business goes to support her family and two children, ages eight and ten. She has previously taken out one Esperanza loan, and found it to be a great help. Tania was able to restock her inventory at a time when her family’s budget was very tight. She plans to use this loan to expand her inventory.
Tania reports that her involvement with Esperanza has given her a more positive outlook on her business’s ability to succeed in this economy. She has learned how to more efficiently manage her costs, which has led her to feel more confident in her skills as a business owner.
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