Enciende Una Luz 1 & 2 Group
Ramona is receiving her second loan from Esperanza Internacional, after having successfully repaid her previous loan. She started her food business 8 months ago with the first loan she took from us. She will use this loan to purchase seafood, meat, chicken and vegetables. With her business profits (for the long term) she will save because she needs to repair her house and make her business prosperous.
Thanks for supporting this group of entrepreneurs!
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