La Fortaleza 2.1 Group
Esperanza Internacional runs a program for their good clients who are reliable in paying back their loans, who have fulfilled the commitment to grow their business, and who have shown faithfulness in their groups. This allows them to take out a loan to improve the structure of their house at the same time as running their businesses and attending their group meetings.
Adargisa wants to start building her house with this loan. Her house was built out of deteriorated wood, and she will rebuild it with concrete blocks. Adargisa is requesting this loan to buy cement, concrete blocks, and other building materials. She wishes to have a safe and nice home, as well as to have an improved business.
Roselia, the other member in this loan will also start building her house with a concrete block structure. She will buy the same building materials but in larger quantities.
Adargisa and Roselia thank God, Esperanza Internacional, and all of you for this opportunity. On behalf of them and their families, thanks to 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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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This loan has been fully funded!