La Nueva Esperanza 4 Group
Rudelania has operated a business selling jewelry and accessories mainly for women. She runs a little 'fantasia' (a small store where she sells different products). She will use her loan to increase her inventory by buying miscellaneous products such as cosmetics, jewel, etc.
Rudelania and her long-term partner live together with their three children. Her most important challenges are to work hard to gain extra income and to better her home structure. She is receiving her first loan from Esperanza Internacional. Rudelania would like to save her profits to build her house.
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