Escolastica is the coordinator of the loan group Mano Amiga (Friendly Hand) 1, 2, 3 & 4. Her group is comprised of 20 entrepreneurs from the Samana peninsula, a lush and rugged area with a growing tourism industry. Escolastica lives in a simple structure with her husband and their two children. She runs a business selling fried fish and other cooked seafood from a stand next to her home. Escolastica is excited to be taking her tenth loan with Esperanza. She has successfully repaid her previous loans and grown her business.
Escolastica is requesting a loan to buy fish and other seafood. She will use the profit from her loan to provide her family with necessities such as clothes, food, and education. Escolastica dreams of rebuilding her house with a better 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.