Hacia Adelante Group
Antonia has a small 'fritura' business where she offers a variety of fried foods to her community. This most often includes fried plantain chips, fried pork, and other fried meats or starchy vegetables. She used her loan to buy a bigger variety of food to cook and to also buy her cooking oil in bulk to reduce costs.
Her dream is to have her own large food business where she owns her own location and building to sell it from. As she works towards that dream, she has created a goal to simply maintain a steady flow of business, to make sure that things are stable in her house, and to slowly grow her business.
Antonia and her story represent the Hacia Adelante Bank of Hope; she belongs to a group of 10 men and women who work hard to improve their lives through the help of their small loans. Each of these men and women has taken out a similar loan to that of Antonia's. On behalf of all of them, and our team here at Esperanza, thank 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.
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Success!! The loan was 100% repaid