Cristo Y Nuestro Esfuerzo 5 And 7 Group
Leonel is excited to be taking his 8th loan with Esperanza, having successfully repaid his previous loans and grown his business. He has had his business for almost twelve years. He plans to use this loan to invest in his business by buying shoes by the dozen in different sizes and colors. He has been saving part of his business profits to build a house, to pay for his children's studies and to provide other needs.
Leonel is the coordinator of his group Cristo y Nuestro Esfuerzo (Christ and Our Effort) 5 and 7. This group is located in the rural areas surrounding La Romana, where the sugarcane harvest and tourism industry dominate the economy.
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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