Una Nueva Esperanza Group
Efrain wants to stock up on products for making desserts to supply to different stores in a nearby town where they can be sold at affordable prices. He is requesting a loan in order to buy supplies for making his French fries and prepared plantains. Efrain will buy potatoes, utensils for slicing and peeling potatoes, gas, oil, sauce, ketchup, plantains, milk, plates, napkins, and other items. He sells his desserts outside of a grocery store that lends him a small space where he can sell his food. Don Efrain is very pleased with the loan because it has helped his business to grow and has allowed him to buy a few more supplies. His goal is to buy a special cart for making his desserts so that he can go to other places to sell them.
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