Emilia Torrez C. (pictured far right) is the president of her Esperanza Bank of Hope, Vida ("life"). She is the mother of seven children--aged 22, 21, 18, 15, 14, 10, and 9--and is putting her loan funds towards starting a well-stocked underwear store. Her primary goal for the future is to work hard so that she and her children can see the business grow.
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.