Sonia is the coordinator of her group, Cristo L. Solucion (Christ the Soluction)1, 5 & 7. Her group is located in the areas surrounding L. Romana, an area economically dominated by the sugarcane harvest. She makes her home here in a simple structure with her long term partner and their 7 children.
Sonia is excited to be taking her third loan with Esperanza, after having successfully repaid her previous loan and grown her business. She plans to use this loan to invest in her business. She runs a beauty salon and a miscellaneous store. She will buy some products, such as beauty and cosmetic products, clothes, accessories and many other items for both economic activities. She will use the profits to save and reinvest in her business.
She said that her most difficult challenge has been to start her business, after she had learned how to work as a beautician. Her dream is to have an improved general store. 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.