Bernarda is one of the members of a group called Nuevo Vencedor (New Winner), comprised of five micro-businesspeople who sell clothes, natural products, shoes, food, and other items. They are located in the city of Samana, a developing tourist town that lies on the Atlantic coast and is rich in natural resources. Bernarda is a mother of three children and she lives together with them and her long-term partner.
Bernarda started her association with Esperanza because she needed to reinvest in her business. She sells underwear, both wholesale and retail, to her clients. Bernarda has operated her business for around five years now and began it with savings she had. She is very excited to be receiving her fifth Esperanza Internacional loan. She has successfully repaid her previous loans and has taken steps to expand her business.
Bernarda is requesting a loan to purchase a large amount of underwear to sell wholesale to her clients who resell this product; also, by buying a greater quantity she should be able to have a small inventory and to get discounts. She will use the profit from her loan to reinvest in her business. 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.