Mujeres De Debora Group
Lucelia is one of the leaders of the 15-person micro-bank Mujeres de Debora. Many of the women in this 15-person bank have recently immigrated from Haiti in search of a better future. Their businesses are simple, but offer a stream of income that could never have been accomplished without such a loan for initial capital. Several of the women sell clothes and shoes in the street, while others go from office to office vending fresh fruit and vegetables daily. These unique entrepreneurs have united in solidarity, allowing them to access funding that they would otherwise never be able to receive on their own.
The concept of this group bank repaying their loan together is to reduce the risk of one person defaulting, as the other members gladly help cover one another’s payments in order to receive their next loan together. As these 15 entrepreneurs embark upon their first ever loan from Esperanza, we are confident that they will all succeed in bettering their lives and the lives of their families with this loan.
On behalf of Lucelia C., the Mujeres de Debora group, and the entire team here at Esperanza International, we thank you for your support and awareness of the global issue of poverty, where your efforts are helping to make a difference.
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