Shara is the coordinator of her group, Mujeres unidas en Amor 1 & 2 (United women with love). Her group is located in Los Alcarrizos, a dusty industrial area north of the capital where free trade zones are common. She makes her home in a simple structure with her husband and their three children. She says that her most important challenge is to progress on her goals to expand her business. In the meantime she plans to continue serving in her church.
Shara is excited to be taking her second loan with Esperanza, after having successfully repaid her previous loans and grown her business. She has had her business for approximately 6 years. She produces and sells Empanada (a fried dough filled with meat and vegetables). She plans to use this loan to invest in her business by buying flour, meat, cooking oil, vegetables and other goods. She will use the profits to save and to provide for the needs in her family, and also to reinvest in her cooking business. She wishes to have a successful business and help her children attend university.
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.