Nuevo Horizonte Group
One of the group’s members is Ms. Fátima. She works as a maid and also sells food merchandise. She is a very hard-working person. She is struggling to get ahead and be someone in life and to help her relatives.
Ms. Fátima says that the loan will be used to buy food to re-sell. She is very grateful, since thanks to this help, she will be able to improve her income and that of her family.
Una de las integrantes del grupo es la Sra. Fátima, ella trabaja de empleada domestica y también se dedica a la venta de mercaderías comestibles, ella es una persona muy trabajadora y se esfuerza por salir adelante y ser alguien en la vida y ayudar a sus familiares.
Cuenta la Sra. Fátima que el crédito lo utilizará para la compra de comestibles para volver a vender, ella se encuentra muy agradecida ya que gracias a esta ayuda podrá mejorar sus ingresos y el de su familia.
About Fundación ParaguayaFundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
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