El Gran Esfuerzo (Grupos 3, 7) Group
Juan is excited to be taking his sixth loan with Esperanza after having successfully repaid his previous loans and grown his business. He plans to use this one to invest in his fuel business and to buy more gasoline and charcoal for sale. He will use the profits to make improvements to his house and buy school supplies for his children. Juan hopes this will contribute to the well-being of his family and to the education of his children. He 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