Union Y Desarrollo 2 Group
Maritza has been selling clothes for around five years. She started her business with her own saving. She is receiving her second loan from Esperanza Internacional after having paid off her previous loan satisfactorily and thereby having taken a step towards the growth of her business. She is planning to invest her new loan in the purchase of different types of clothes, for women, men and kids. Martiza plans to use her profits to save and invest in her business.
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