Hacia Adelante 1, 2, 3 & 4 Group
Maria is excited to be taking her fifth loan with Esperanza after having successfully repaid her previous loan and grown her business. She has had her business for six years, and she started with her own capital after saving for a while. She plans to use this loan to invest in her business by purchasing some hardware, expendable materials, and some miscellaneous products like cosmetics, women's accessories and jewelry. She says that her most difficult challenges are to improve her business and to help her family. In the meantime, she plans to continue enjoying cooking for her family.
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