Caminando Hacia El Progreso 1 & 7 Group
Maria makes her home in a simple structure with her long-term partner and a child. For the past four years she has operated a beauty salon where she serves her clients and sells different products. She started her salon with her own capital after saving for a while.
Maria is excited to be a part of this third loan with Esperanza after having successfully repaid her previous loan portions and grown her business. She plans to use her loan to invest in her salon by buying hair and beauty products, cosmetics and other beauty supplies.
Maria says that her most difficult challenges are improving her business and helping her family. Nevertheless, she plans to continue enjoying working in her salon.
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