Luchando Contra La Pobreza 1 & 2 Group
Lucia R., the group leader, is a middle-aged woman who came to Esperanza in search of a loan two and a half years ago, and invested it in a small “colmadito” (grocery store) that sells staple foods and groceries. Now Lucia R. is excited to receive her sixth loan, which she will use as capital to buy enough inventory for her store. The money from this loan will go towards purchasing cooking oil, rice, sugar, and crackers.
Lucia R. said that she hopes to continue to grow her business so that she will be able to help support her two grown children (25 and 27) in their college. When she is not working, Lucia enjoys attending her local church several times a week.
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