La Solución 7 Group
Teresa is excited to be taking her second loan from Esperanza after having successfully repaid her previous loan and expanded her business. She runs a small cafeteria. She plans to use this loan to invest in her business by purchasing the ingredients necessary to make toast, empanadas (delicious Dominican-style "Hot Pockets"), soft drinks, and coffee. She will use the profits to buy her children shoes and notebooks, to occasionally take them out to get ice cream, and to add a window to her home. Her long term goal, however, is to move her cafeteria out of her rented home to its own location, and to purchase her own home. She thanks you 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