Mujeres Luchando Contra La Pobreza 1,2 Group
Severina is excited to be taking her fifth loan with Esperanza after having successfully repaid her previous loan and grown her business. She plans to use this loan to invest in her business selling gasoline (a common business in the countryside where there may not be a gas station for miles) by purchasing more gasoline as well as adding a small fruit selling business. Severina recognized that she could easily sell fruit to her customers while they filled up on gasoline and has decided to diversify her business (sound like any gas stations you know?). She will use the profits to invest in a plot of land on which she would like to eventually build her own home. 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