Luz De Bendicion 1, 2, 3 & 4 Group
Marie is very excited to receive her fourth loan from Esperanza Internacional, having satisfactorily repaid her previous loan and taken an important step in her business growth. She has had her business for about nine years; she started it with her savings. She is running a retail business, where she sells hair and beauty products, clothes, shoes and cosmetics. She is planning on investing the new loan to increase her inventory and to respond to her clients. She does her sales from her house, by walking around with products and a catalog. When she sells via the catalog, her clients order an item, she buys it and most of them pay on credit.
Marie’s family is made up of herself and her three children, two of whom live in her house. She is now single because she separated from her long-term partner. She tells us that her greatest challenge is to build her house into a better structure. She will use her profits to save and start making changes to her house by building little by little. 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