Antonia lives in Hato Mayor, one of the country’s more rural cities whose economy depends on agriculture. Antonia and her group of five members are taking loans for their businesses. Most of them sell clothes and miscellaneous products. This group is named Fuerza Divina 4 (Divine strength).
Antonia runs a miscellaneous products sales business. She will invest this loan to buy cosmetics, shoes, accessories and other products to sell. She has had her business for almost eight years, starting when she received her first Esperanza loan. She says that her favorite thing is to work on her business. She wants to see her children become professionals.
This is Antonia´s 15th loan with Esperanza International, after she successfully repaid her previous loans, each of which gave her one more step toward improving her business and her life. She said that she has been able to finish building her house, which was one of her most difficult challenges. Now her home is in the building process, thanks to these loans, her savings and profits from her business. Antonia and her group are thankful 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.