Fuente De Paz 4,8 Group
B. is excited to be taking her seventh loan with Esperanza, after having successfully repaid her previous loans which were used to grow her business. She plans to use this loan to invest in her clothes selling business by purchasing skirts, blouses, and pants in the main market at Santo Domingo and then reselling them in her community. She will use the profits to relocate her business to an area where the is more traffic, and also to get her legal documents in order so that she can go to the university. 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