Luz De La Esperanza 1 & 2 Group
Maria makes her home here in a simple structure with her husband and their three children. She is excited to be taking out her third loan with Esperanza, after having successfully repaid her previous loans and grown her business. She plans to use this loan to purchase calling cards, mobile phones, copy paper, etc. She also sells cosmetic products, and she will purchase different brands of this kind of product, as well as some others things like women’s accessories. She will use the profits to further invest in her business, as clients always need more products. 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