Marina is the coordinator of her group, El Sol Sale Para Todos 4 & 6. She makes her home in a simple structure with her husband. She says that her most difficult challenge right now is improving her business. In the meantime, she plans to continue spending time with her family.
Marina is excited to be taking out her 8th loan with Esperanza. She has had her business for more than five years, and started her business with some savings. She plans to use this loan to invest in her fried chicken restaurant by buying potatoes, plantains, cooking oil, chicken, disposable dishes, and other goods. She will use the profit to reinvest in her business. She wants to have a successful restaurant.
This Esperanza associate began working with this group because she was interested in investing in her business, and she needed capital to improve her inventory. Her group is located in the rural areas surrounding Hato Mayor, an area where the economy is dominated by agriculture.
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.