Primera Esperanza 5 Group
She has owned an underwear business (selling a variety of garments) for three years now and is applying for a loan to invest in stock to try and grow her business. She has previously taken out loans with Esperanza International (Kiva's Field Partner in the Dominican Republic and Haiti) but this will be her (and her group's) first Kiva loan. Martha will use her first loan with Esperanza to set up her business. She says that, since then, subsequent loans have allowed her to successfully grow the business. As a result, Martha says that her family has benefited, as has her local community, because now they don't have to travel so far to buy underwear.
Martha says that her favorite pastimes are studying and spending time with her children. She also says that her most difficult challenge is finding the money to complete her studies. Her dream is simple, and applies to both the present and the future. She simply wants to keep doing things that make her a good person.
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