Carmela is one of our businesswomen. She works selling grocery products in her small store in her house. This kind of business is called "Colmado". She is a mother with 2 children. Only one of them lives together with her and her long term partner. They both work to support the needs of their household, and Carmela works every day to provide her children with a good education, clothing and food. She belongs to the "Esperanza Asegurada 3 & 4" Group together with 9 neighbors who also work hard to bring more stability to their families.
Carmela is receiving her 10th loan from Esperanza Internacional and, because her loan repayments have been made punctually, she has been able to strengthen her business and make good investments. Her plan for this new loan is to invest in her business by buying different types of goods for daily meals, to increase her business inventory and to give better service to her clients. She uses the profits from the sales she makes to save. 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.