Mata De Palma En Desarrollo 5 & 7 Group
Altagracia plans to use her loan to invest in her clothing sales. She has set up a clothing sales business, so she will use her loan to buy new clothes to sell. She hopes to eventually set up a store where her customers can come to her instead. She also wants to finish building a house with her sales profits and be able to help her children acquire a college education.
As a member of Esperanza, Altagracia 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 house built, 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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