Confianza Y Dignidad 2 Group
Carmen is the mother of four children, who live with her and their father. She tells us that she wants to build an additional room in her house. Her favorite activity is to take care of her children and be at her home.
Carmen is very excited to receive her 11th loan through Esperanza International. She has had her business for fifteen years, which she started with a small amount of savings she had and with her initiative to generate income and be useful. She plans to invest this new loan into purchasing fruits, cassava, plantain, banana, sweet potatoes. She will use the profits to save so she can finish building her home.
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