Patricia, who will use the loan to buy popsicles, “chicharrones” (fried pork rinds), chocolates, yogurt, and gelatin.
María Clara, who will buy beds, mattresses, and sheets.
Juan Carlos, who will buy soap and pressure washers.
Leonardo, who will buy fertilizer in order to fertilize his sugar cane crop.
María Clara, age 56, is divorced and has no children. She has a business renting a garden and bungalows for social events. She started her business three years ago when she was looking for information and took advantage of her property.
Her business is important because that is where she gets the income to eat, and it lets her get ahead. She is proud to see that her business is fulfilling her dreams. She remembers when she started, and people called her to rent the garden for an event. She feels proud that she is getting the fruit of her work. She uses the income to buy plants, lamps, paint, lights, and to pay for water and electricity.
Her hopes and dreams are for her business to grow and to build a second floor and a pool.
The members of the group want to tell Kiva and the Fundación Realidad, “We are grateful for your loans, they help us continue our businesses.”
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