El Sol Sale Para Todos 2 &3 Group
Magaly is a single mother who makes her home in a simple structure with 5 of her 7 children. Two of her children are already grown. She says that her most difficult challenge right now is improving her house. In the meantime, she plans to continue to enjoy working and running her business.
Magaly started her business with her first Esperanza loan almost 6 years ago. She is now receiving her 11th loan. Magaly sells clothing. With this loan, she will invest in her business by buying more products to sell such as slippers and blouses. With every loan she has been able to expand her inventory with many different products.
Magaly dreams of having a store, of being able to proviD. for her younger children to attend university, and of finishing her house. Her business profits will be reinvest and by a getting better income, she will be saving more to reach her dreams and many other projects she wants to do to generate more income.
Magaly wants to finish building her house and make it a safer structure. She is always working because work is one of her favorite things to do. Magaly and her group thank you for your help in achieving their dreams by funding this loan!
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