Las Reynas Group
San Juanita is one of their members. She is 41 years old, is married, and is the mother of 4 children aged 22, 20, 17 and 9. She also earns a living selling new clothes and jewelry. She began selling her products to neighbours and acquaintances and, gradually, her sales have been increasing.
She will use the loan to buy clothing and jewellery because her business is thriving.
San Juanita wants her business to continue growing so she can help her family to move forward.
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