Nancy is the head of her family and she has three children. She lives in an impoverished area of the Dominican Republic in a simple structure without potable water or electricity. For the past three years, Nancy has run a clothing store. She started her business with her savings. Her most difficult challenge is to give her family what they need in every sense of the word. She enjoys working to develop her business and is excited to be taking her second loan with Esperanza. Nancy successfully repaid her previous loan and has been able to grow her business. She is the coordinator of her loan group Fuerza Divina 6 (Divine Force 6).
Nancy is requesting a loan to buy new clothes. She joined Esperanza because "this was the opportunity to start my business, and I have seen the results." Nancy will use the profits from her loan to reinvest in her business.
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.