Luz Y Esperanza 1 Group
Teresa plans to use this loan to invest in her business of selling miscellaneous products. She will invest this loan to buy clothing, shoes, cosmetics and accessories. She will use the profit to reinvest in her business and to save for the future. Before she started her business she couldn't save, but thanks to her business and these loans, her business is going well and she can save her profits.
Teresa is excited to be taking her 4th loan with Esperanza after having successfully repaid her previous loan and grown her business. She thanks you all 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