Las Flores 1, 2 & 3 Group
Lourdes and her long-term partner have two children and live in a simple home in Santiago. Lourdes sells Avon products; she shows the catalog to her clients and they order items from it. She also operates a food stall where she sells 'Riky' (a meatball sandwich, very popular on the north coast of the country) in the morning and at night. Lourdes will use this loan to invest in both businesses, by purchasing beef, bread, ketchup, mayonnaise and other ingredients for her food stall and by purchasing more inventory of popular and sales products for her Avon business.
This is Lourdes’s fifth loan with Esperanza International, and she hopes to continue taking out loans to grow her businesses and to improve her family's home life.
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