Mujeres Al Progreso Group
Yorkis is excited to be taking her fifth loan with Esperanza after having successfully repaid her previous loan and expanded her business. She plans to use this loan to invest in her business in which she acts as a sort of a gopher or intermediary, taking orders from clients and then arranging for them to be transported to the client. She will use the profits to invest in finishing the construction of her home and saving money to one day have a small location for her business. 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