Canal De Bendicion 6 Group
Eliana is excited to be taking her fourth 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 selling fried food, by buying chicken, beef, flour, oil and plantains. She operates a fried food stand where she cooks dinners for sale. She will use the profits to improve her quality of life by building her house out of concrete block, for more security.
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