Yesenia is the coordinator of her group Restauracion (Restoration) 1. This group is located in Hato Mayor, a rural town where the economy is based around agriculture. She makes her home here in a simple structure with her long-term partner and their four children.
Yesenia is excited to be taking her 11th loan with Esperanza after having successfully repaid her previous loans. She runs a beauty salon. Yesenia started her business with the first loan she received from Esperanza. She is planning to invest her new loan in the purchase of cosmetics, hair and beauty products, and other instruments. She tells us that her most difficult challenge has been to establish a sustainable business. She will use the profits to save and reinvest in her business. She thanks 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.