Paula is the coordinator of her group, Mujeres Unidas (United Women) 1, 2, 3 & 4, this group compounded by 20 micro-entrepreuners (women and men) located in the lush, rugged Samana peninsula. She makes her home here in a simple structure with her long-term partner and their five children.
Paula is excited to be taking her 15th loan with Esperanza after having successfully repaid her previous loan and grown her business. This businesswomen runs different sales in her business, one is selling sewing machines (used and for domestic uses) and the other sales are coconut oils. She plans to use this loan to invest in her business by purchasing sewing machines to sell and coconuts to extract oil.
She said that her most difficult challenge has been to raise her children and educate them while she has been working to support her long-term partner. She will use the profits to reinvest and to save for any needs in her family. She thanks you all 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.