Mujeres De Amor Group
After Amancia’s first husband passed away she provided for her children by selling clothing in Puerto Plata. Amancia says that she used to buy clothes at a discount from a warehouse in Santiago and then sell individual items of clothing in her neighborhood. Now, she hopes to use Esperanza to help her to start selling clothes again. Amancia believes that with the help of Esperanza she will be able to make her business a success. She says that Esperanza’s loan will allow her to obtain an additional discount from the warehouse because she will be able to buy in bulk.
Amancia’s hope is to spend the income from her clothing sales to provide her children with a good education. She says that she wants to help her children to learn English and dreams that she will be able to send them all to college. Amancia is particularly interested in helping her youngest son Rafael to pursue an artistic career. Although he is only ten, Rafael has demonstrated musical talent.
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