Mi Fortaleza En Cristo 5 Group
Mayra is excited to be taking out her first loan with Esperanza, after she was invited by other women in her community to be part of their group and receive a loan for her beauty salon. She plans to use this loan to invest in her business by buying hair and beauty products. She will use the profits to invest in saving towards her goal of expanding her local business into a bigger one, and to buy more equipment. She dreams of having her own house and of giving her family a better life. 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