Nuevo Progreso 1, 2, 3 & 4 Group
Enercida is excited to be taking her ninth loan with Kiva field partner Esperanza International, after having successfully repaid her previous loan and growing her business. She plans to use her portion of this group loan to invest in her cosmetic catalog sales business, and will buy products such as deodorant, body lotion, perfume, and makeup. Enercida also plans to buy "Paca" (packages of second-hand clothing) to resell.
Enercida plans to save some of her profits in order to be able to build a website for her business. She wants to improve her business, and the well-known cosmetics company she works for encourages its sales representatives to have websites.
As a member of Esperanza, Enercida joined a borrower group that includes some of her very good friends. She says all of them are hard workers and dedicated to their businesses. She dreams of having her own house, and of seeing all her children go to school and becoming professionals. She thanks all of you 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