Luz Y Esperanza 4 & 5 Group
Miguelina has just completed her first loan cycle with Esperanza and she is excited to take out her second loan. With this loan she plans to further invest in her business selling candles in her neighborhood. She has identified a market for candles in her neighborhood as a result of the frequent, extended blackouts common in her area. She believes that this business will provide a steady income and improve her quality of life and the lives of her children. She thanks 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