Francisca is one of the members of the Grupo Pensando en el Futuro (Thinking about the Future), located in the city of Samana. This group is composed of fifteen micro-entrepreneurs who sell clothes, shoes, cosmetics, and fruits, and who also provide services including a beauty salon, etc.
Francisca is a businesswoman who lives with her three children. She tells us that her greatest challenge is to help her children to grow and become professional. She is very excited to receive her first loan with Kiva partner Esperanza Internacional, which she will invest in her business inventory by buying different household cleaning product boxes. She has had her business for about 4 years. She started it with some savings she had. Her dream is to have a successful business and a comfortable house.
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.