Las Rosas Group
María Elvira, 40, makes a living selling used and new clothing. She started her sales business in traveling markets three years ago with the goal of giving her children an education. She's married and has three children, two teenagers, ages 17 and 18, and a four-month-old baby.
Her goal is to set up a food business.
María Elvira's colleagues think she's a very responsible, fair, and happy woman.
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