Maria is the coordinator of her group Fe y Esperanza (Faith and Hope) 3. This group is located in the city of Samana, a tourist city surround by the Atlantic ocean. Each borrower is running his/her business in the communities near the city. They are selling clothes, shoes, grocery store and other items.
Maria makes her home here in a simple house with her long-term partner. She is living with one of her children. Maria is running a miscellaneous store, where she sells shoes, clothes, cosmetics, beauty products, accessories and other goods. She will use this loan to increase her inventory. She is excited to be taking out her 6th loan with Esperanza, after having successfully repaid her previous loan and expanded her business.
This Esperanza associate began with us because she needed capital to invest in her business. After some loans, Maria's business has been improving with every investment. She will use the profits to reinvest in her business and to save. 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.