Esperanza Divina 3 Group
Luisa is very excited about receiving her 12th loan from Esperanza Internacional, having repaid her previous loan satisfactorily and taken an important step toward her business’s growth. She started her business with the first loan she took from Esperanza. She has been taking out loans from Esperanza for about six years. She runs a beauty salon and for two years she has also been selling through a catalog one of the leading brands of natural medicine. She will use profits to reinvest in her businesses and to save for her family needs, like to finish building her home with a safer structure. 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.
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Success!! The loan was 100% repaid