Genesis 4 Group
Maria is excited to be seeking her seventh loan with Esperanza after having successfully repaid her previous loan and expanded her business in doing so. She plans to use this loan to invest in her business. Specifically, she sells both agricultural and beauty products in her small town, including hair straighteners, creams, deodorants, and hair extensions, as well as charcoal and fertilizer. She will use the profits generated as a result of this loan to improve her home and her family's standard of living. For instance, she would like to add a concrete floor to their home and to purchase shoes for her children and a laundry machine to lighten her domestic burden. 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