Currently her eldest daughter runs the restaurant while she works in a nearby hotel in order to make ends meet. With the loan she will buy a toaster, a blender, and more stock supplies (sugar, rice, beans) to be able to produce more food and earn more money. She is hoping to expand her business enough for it to become her primary source of income, which will allow her to be her own boss and finish her roof. She hopes that this money will help her children get a better education. Sira also aspires to one day be a loan officer with Esperanza. She is very grateful for all of your support.
Sira is part of a loan group, and this loan will be distributed amongst the members.
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