Elena is asking for a loan to get clothing in bulk to add to her stock in order to augment her sales volume and, consequently, her revenue. That way, the entrepreneur will be able to ensure a better future for her family.
The other four member of Elena's group are:
Yohana F. C., to buy clothing in bulk for a small business;
Altagracia A. H., a tennis and shoes retailer;
Romelia S. V., to buy clothing in bulk;
EnmanueL. P., for a small cafeteria.
Photo: from left to right: EnmanueL., Romelia, Altagracia, Elena, Yohana
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