Mujeres Hacia El Progreso 2 & 3 Group
Margarita is very excited to be receiving her sixth loan from Esperanza Internacional, after having paid off her previous loan satisfactorily and taken a step towards business growth. She has had her business selling decorative candles for around 6 years. She started the business with her own resources.
Margarita is planning to invest her new loan towards purchasing various products such as decorative candles, clothing, and accessories. She is going to use her earnings to continuing saving. With previous loans, she started building her house and now she is looking to finish it. Her dream is to be able to have her own well established business.
Margarita's family is made up of herself, her husband and her 3 children, 2 of whom live with her. She tells us that her most difficult challenge is caring for her children's health and being able to satisfy this need when the moment arises. She loves to watch television and to help out at the church.
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