Francisca is the coordinator of her group named Salomon 2 from the city of Samana's Peninsula, a lush, rugged area with a nascent tourism industry, where running water (none of which is potable) and electricity are unreliable. She makes her home here in a simple structure with her long-term partner and their three children.
Francisca is excited to be taking her third loan with Esperanza after having successfully repaid her previous loan and growing her business. She plans to use this loan to invest in her business, a little store where she sells groceries. With the loan, she will purchase rice, beans, meat, canned food, flour, sugar, and other goods. She will use the profits to provide for her family. She also plans to save to build a local business next to her house, where she can run her grocery store. She thanks you all 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.