The Chevalier de Romeo group is excited about receiving their firS. loan from Esperanza. The group has a variety of businesses from selling used clothing and sandals to food and meats in local markets. Leonel B. is the representative of the group. He is a 31-year-old husband and father of two children. Leonel has a thriving gas business, a sort of mini station. He sells both at home and by the side of the road to passing motorists. His intereS. in joining Esperanza came from the low intereS. rate of the loans and because the organization shares his same Christian values. He hopes to grow his business and be a blessing to the people in the area. On behalf of Leonel, Chevalier, and Esperanza we thank 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.