Mata De Palma 3 & 5 Group
Carmen is a mother of four children and they live together with her and their father. She said that her most difficult challenge has been to have her business at all. In the past it was very difficult, because she did not have enough money to start one up, but after she found Esperanza and took out her loans, she was able (like other members in this group) to open her business.
Carmen is excited about her 12th loan with Esperanza. After almost six years with her business, she has expanded her little butcher shop into a bigger one, with more quantity of meats to supply more clients. With this loan she will increase her inventory and make even bigger sales. She will use the profits to invest in her butcher shop. She is planning to make some changes in the structure.
She dreams of having a nice house and a successful business with employees. Carmen and her group thank all of you 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