Israel Group 1, 2 & 3
Olimpia, a single mother, makes her home in a simple structure with her three children. Her most difficult challenges are to educate her children, to provide for all their needs and to help her daughter recover from a hearing problem. She requires a loan to buy beauty products for her beauty salon and some natural products; she has a stall in her salon where she sells natural medicine. This is her first loan with Esperanza International.
She decided to take a loan because she is very interested in developing her businesses; also, Esperanza Internacional clients are mostly women, and she identifies with the program. She has had her business for over six years, having decided to start it after she learned about the beauty career. Olimpia will use the profits as savings.
Olimpia and her group are thankful 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