La Unidad 3 & 4 Group
Carolina is excited to be taking her third loan with Kiva partner Esperanza after having successfully repaid her previous loans and grown her business. She plans to use this loan to invest in her beauty salon by purchasing a large quantity of beauty products and some equipment like a hair dryer and other items. She will re-invest the profits in her business. She started doing her business after she worked in a beauty salon and then decided to have her own business. For her future, she is dreaming of improving her business and selling different products. She thanks you all 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.
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Success!! The loan was 100% repaid