La Esperanza El Coco 1 & 2 Group
Menenciana's family is maD. up of her long-term partner and their two children. She tells us that her most difficult challenge is to reach her goal of having a good business that generates good income.
This group is dedicated to many different businesses like selling clothes, shoes, cosmetics, and a little restaurant. Menenciana is selling clothes. She is very excited to belong to this group and start having a loan for her business and a chance to improve her business.
Menenciana is planning on investing her new loan in the purchase of clothing. She will use her profits to continue investing in her business to improve sales, incorporating more products and saving. She hopes in the not too distant future to have her dream of building her house come true. She also wants to have good health and a more economically stable life.
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