Udiedi 1,2,3 Group
Elena will be using this loan to buy a pack of tennis shoes to sell to her customers. Selling tennis shoes results in a larger profit than selling clothing, but requires more initial capital to buy them, so she is very thankful for this loan. She is thankful to Esperanza for having low and manageable repayments which has allowed her to reinvest more money into her business. She looks forward to taking out more loans in the future to help her business grow and to support her house and family financially. Thank you for your help!
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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