Santa Mónica Group
Leticia is a responsible individual. She is married and has 3 children. She earns a living selling snacks from home. She also sells second-hand clothing in open-air markets. She began in a school cooperative and ever since then she has enjoyed working in sales. She sells an assortment of fried snacks from her home and in schools. She also sells second-hand clothes in small markets to help with household expenses. Her dream is to have her own store where she can sell her products more comfortably.
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