Elupina is one of Esperanza International's entrepreneurs. She came to Esperanza International almost two years ago for a loan to expand her business. She joined the group Fe y Esperanza 1.1 (Faith and Hope) in one of the rural villages in Samana, where she has received five loans to invest in her business. Esperanza International is running a program where most of their clients pay back their loans, fulfill the commitment to expand their businesses and show fidelity in their groups. They can request loans to improve their homes while running their businesses and attending groups meetings.
Elupina is living in a rural town with her long term partner and her only child. She started building her house with their family savings and her business profits. She took out loans with Esperanza almost three years ago to expand her business selling clothes. Elupina will finish building the floor for her house while the other member, Jimena, will build her house roof. Both members request a housing loan for their home improvement.
Elupina and Jimena thank 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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.