Amor Y Paz De Dios 2 Group
Elena started her business with her own savings. Having promptly repaid her previous loans, she is excited to be taking her eleventh loan from Esperanza, which she will invest in her business to buy fruit, sugar, yucca, cooking oil, etc. She sells natural fruit juices and chulitos (dough made from yucca that is filled with meat or cheese and then fried). She is planning to use her profits to build her house and further develop her business.
Elena says that her most difficult challenges have been her economic problems and health. Meanwhile, she plans to continue attending her church.
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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