Esperanza Y Fe Group
Elena’s group is located in La Romana, a rural area of the country dedicated to the sugarcane harvest, where running water (none of which is potable) and electricity are unreliable. She makes her home there in a simple structure with her husband and her six children.
Elena is excited to be taking her first loan with Esperanza – she is very excited for this opportunity to grow her business. She plans to use this loan to invest in her small general neighborhood store by purchasing necessary products such as clothes, flip-flops and other things.
Elena will use the profits to expand her business and hopes to have enough money to make improvements to her house. 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