La Esperanza Group
One of the members of the committee is Rosalina, who has a well-stocked blacksmith's. She tells us that her business is going very well because she has good customers who come to her for the good service that she provides and for her good work. She would like to continue stocking her business and so is requesting a loan to buy clothing and tools which she needs for her blacksmith's such as iron, sheets of metal, paints, etc. She is grateful to Fundación Paraguaya and Kiva for the opportunity that they are giving her.
Una de ellas es la señora Rosalina, ella tiene una herrería bien equipada, comenta que le va muy bien en el negocio, justamente por tener buena clientela que acude a ella por el buen servicio que presta y también por el buen trabajo. Quiere seguir abasteciendo su negocio, por lo que solicita el crédito, para la compra de indumentarias y utensilios necesarios para la herrería, como ser hierros, chapas, pinturas y demás. Está agradecida a la fundación y kiva por la oportunidad que le dan.
About Fundación ParaguayaFundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
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