Con Dios Adelante 3, 4 & 5 Group
Ines is very excited to receive her fourth loan from Esperanza International, having satisfactorily repaid her previous loan and taken an important step in her business's growth. She has had her business for about six years. She started it with her own capital, after she saved money by doing different jobs. She is running a shoes sales business, and she is planning on investing the new loan in buying many dozens of tennis shoes, sandals, sneakers and casual shoes for women, kids and men. She sells the shoes by walking around, from her house, and from a place in a flea market once a week.
Ines’s family is made up of herself and her two children. She tells us that her greatest challenge is to have her own house. She really enjoys working and taking care of her children. She will use her profits to invest in her business and to start saving, this time to make possible one of her dreams, to have her own house.
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