Lourdes is the coordinator of her group, La Union (the union). This group consists of 20 micro-entrepreneurs located in the city of San Pedro de Macoris, where Lourdes makes her home in a simple structure with her three children and her long-term partner. She has been working hard to support her children.
Lourdes has sold clothing for around five years, having started the business with her own savings. Now retailing a variety of products, she is excited to be taking her first loan with Esperanza International with which she will purchase clothes, shoes, cosmetics, etc. Lourdes will reinvest the profits in her enterprise and save some for any family needs that may arise. She thanks all of 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.