Victoria is one of our associates from the Seybo Branch, a rural town whose economy depends on agriculture. She is the coordinator for the group called Unidos podemos 1 (United we can 1). She has been running a grocery store for eight years, a store she started with her first loan from Esperanza. She will invest this loan in her grocery store, buying products like rice, beans, sugar, cooking oil, canned food, and many other goods.
Victoria lives with her long term partner in their simple-structure home, and they have four children. She says that her most difficult challenge is to improve her business, her home structure and provide for her children. She enjoys working at her business. She is very excited to be receiving her 11th loan from Esperanza. She plans to save the profits for future ventures. One of the goals is to rebuild her house with a better and safer structure. 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.