Madre De Familia 1, 2 & 3 Group
Berthe is running a fried food stall in front of her house, where she sells fried chicken, plantains, empanadas and other popular Dominican fried food, specially for dinner. This loan will be invested to purchase goods to prepare the food to sell. This is Berthe's first loan with Esperanza, and she is excited to invest all the money in her business, which she started two years ago with some savings after she became a single mother of three.
She joined the group because she was needing capital to invest in her business. She thanks 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