Esperanza Para Vivir 1 Group
Mayra is a single woman without children who lives in a simple house with her parents’ family. Besides helping her parents financially, she is dedicated to working hard to save money and grow her business.
Mayra has been running her business for around four and a half years. She started taking loans with Esperanza International because she needed capital to increase her sales and inventory. She is excited that her group is taking a fifth loan, this one for 145,000 DOP, from which she will receive a portion to buy various products like cosmetics, clothes and shoes.
Mayra will reinvest her profits in her business. She thanks all of you 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.
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Success!! The loan was 100% repaid