Paz Y Fe 1 Group
Yrma originally came to Esperanza over six loan cycles ago for the purpose of improving her business and she has proved herself very successful as an associate of Esperanza, repaying on time every time. She will use this new loan to invest in more products such as plantains, name (a potato like root) and booklets to sell in her store. She plans to use the profits to purchase, clothes, school uniforms, notebooks and shoes for her children, a cow for her family and to continue to improve her home. Additionally, in the long term she would like to save money for a vehicle to move her products and to continue to increase her savings. She would like to thank you all for your 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