Peniel, Group 7
This is Patria's first loan with Esperanza. She came to Esperanza for a loan because she wants to open a cafe and work for herself. She plans to use the loan to buy food to sell in her cafe including: cookies, cheese, and juice. She will also buy a toaster.
Patria wants to start a business so that she can improve the living conditions for her family. She would like to buy a house, a washing machine and shoes for her children. She hopes to continue to invest in her business in the future.
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