Fuente Para El Desarrollo 1, 2 &3 Group
Juana is very excited to be receiving her fourth loan from Esperanza International. She has successfully paid off her previous loans and taken steps to grow her business. She started her business five years ago. She will invest her new loan in purchasing an electrical generator. She runs a beauty salon. She will use her earnings to re-invest in the business while she saves for her children's education and other needs. Juana thanks 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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Success!! The loan was 100% repaid