Batey Nuevo 3 Group
Nelson is excited to be taking his eighth loan with Esperanza after having successfully repaid his previous loan and grown his business. He plans to use this loan to invest in his business by buying goats and selling the meat in his butcher shop. He will use the profits to improve his business and become a successful farmer. 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