Las Mercedes Group
Claribel is excited to be taking her tenth loan with Kiva partner, Esperanza, after having successfully repaid her previous loan and grown her business. She plans to use this loan to invest in her business by purchasing a machine to impress metal to make jewelry and the metal to use in the machine. She will use her profits to invest in the re-modelling of her home and school supplies for her children. She would also like to save to travel to the US to visit her family there. 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