La Union En Progreso 1 Group
This associate of Esperanza is a mother of four children. She’s married and started her business with some of her savings. She is now in her fourth year and receiving her 8th loan. Each previous loan has been repaid satisfactorily and she has maD. good investments.
She is currently operating a “Decoration businees” she sews bedlinen and curtains, also she fabrics pillow cover, branchet, and complements for bedroom and bathroom. She is planning to use the new loan to buy linen, threads, embellishments, needles, etc.
She will use profits to reinvest in her business, to pay public utilities and to save some in order to help her children and improve her business.
Her favorite pastime is to do business and her primary challenge is caring for her children.
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