Caminando Hacia El Progreso 3 & 4 Group
Sofia lives in El Puerto, a small town north-west of San Pedro. She has two children, one of whom still lives at home with her husband. They live in a house made from cement blocks with a tin roof, a significant improvement over the wooden houses of many neighbors. Sofia has used profits from her colmado (small corner store) to build this house, a significant achievement and proof of an expanding business. El Puerto is not an easy place to live: few medical facilities, large distances to nearest towns, little access to electricity, and no potable water access can cripple a population. Despite these difficulties, Sofia and her group have found stability in their loans and look forward to continuing to develop their businesses and community.
Sofia will be using this loan, her ninth with Esperanza International, to buy additional merchandise for her store, including bread, juices and soft drinks. She said that before having loans, it was easy for her and other group members to fail in their businesses because they did not have enough cash flow. Now, however, she and the others in her group have thriving businesses. She is very grateful for past support and excited for the possibilities in the future. Thank you for lending to Sofia and the Caminando Hacia el Progreso group!
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