Los Lirios 1 And 4 Group
Evelyn business is a beauty salon and it has been successful, however, unreliable water from the utility company means that clients may sometimes be turned away or worse, have to wait for hours to wash hair products out of their hair. Evelyn's plan therefore is to purchase a water pump to prevent this from happening and attract more business. In addition, her dream is to use to use the new revenue from new clients to build a second story to her home so that her shop can be on the bottom floor and she can live upstairs. Also, since her home is also her business she notes that the pump will have the added benefit of providing her family with consistent running water. She thanks everyone for their 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