Maritza is the coordinator of her group, Faroles de Esperanza 7 ("lanterns of hope"). Her group is located in the urban slums surrounding Santiago, an area known for its tobacco production, where running water (none of which is potable) and electricity are unreliable.
Maritza makes her home here in a simple structure with her long-term partner and one child. She plans to use this loan to invest in her business of selling miscellaneous products, specially clothes and shoes. She will use this loan to buy jeans, skirts, shirts, cosmetic products, shoes, etc. She will use the profit to reinvest in her business.
Maritza is excited to be taking her second loan with Esperanza after having successfully repaid a previous loan and grown 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.