Leonor is one of the members of the La Buena Unión (The Good Union) 4. They are micro entrepreneurs who are in clothing sales, sales of assorted merchandise, shoes, crafts, etc. Their sales points are in the city of Hato Mayor, a farming community in the northeast of the country.
She lives in a simple home structure with her long-term partner. She says her most difficult challenge has been to establish her business and improve it. From the beginning, it was very hard for her because she didn't have the capital for it.
Leonor is very excited about receiving her fifth loan from Esperanza Internacional, having repaid her previous loan satisfactorily and taken an important step toward her business’s growth. She has had her business for about five years; she has been taking out loans from Esperanza for about four years. She will use this new loan to buy shoes in different sizes and styles. She will use profits to reinvest in her business and to save. 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.