Genesis 3 Group
Carmen is excited to be seeking her first loan with Esperanza. She plans to use this loan to invest in her business. She operates a 'colmado' (food stall), and she will invest in her business by buying rice, beans, sugar, vegetables, canned goods, etc.. She will use the profits to re-invest in her business. Her most difficult challenge is managing to have a comfortable life. She thanks all of you 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