La Nueva Union 1 & 2 Group
Maria has proven herself to be an excellent client of Esperanza and she has successfully repaid four loans. With this new loan, she will purchase flour, meat, oil, and other goods to produce empanadas, a meal of flour filled with meat or vegetables. She has identified a market for these goods among her neighbors and she believes the increased profits will allow her to invest more in her business and save some of the capital. She thanks you all 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