Señora Leonor is 57 years old, she is married and has 4 adult children who work. She sells mail-order shoes from the Andrea y Class brand. She is applying for her loan to buy school shoes for men, women and children for the start of this term and she will accept payment installments. She started her business 7 years ago out of the necessity to make an income. She offers her products to her neighbors, friends and family. She provides her customers with boots, trainers, sandals, slippers and shoes for men, women and children. She is proud to be able to offer her customers repayment facilities. She reinvests any profits she makes. She is planning to increase her sales by going to nearby communities to sell her products. She is happy with this loan as it will help her to fill her orders. Her hopes and dreams are that her children will have their own families, that they have a good life and that she will see her grandchildren grow up.
The members of the group have the following message for Kiva and Fundación Realidad: “We are very grateful for the support that you are giving us, God bless you and may you continue to help the people who need it”.
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