Luz Y Esperanza 1, 2 & 3 Group
Gricelda runs a comedor, which is a little restaurant that serves lunch in her neighborhood. Gricelda has operated her business for around eight years now and began it with savings she had. She is very excited to be receiving her 8th Esperanza Internacional loan. Gricelda has successfully repaid her previous loans and has taken steps to expand her business.
Gricelda is requesting a loan to purchase chicken, rice, vegetables, beans, other meats and cooking oil for her to cook daily meals for her clients. She will reinvest the profit from her loan in her business. 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.
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Success!! The loan was 100% repaid