Milagros De Cumayasa Group
The beauty salon has been successful for her. She has been able to pay her bills and take care of her child's needs. In the future she would like install her beauty salon in her very own local area. Yocasta works hard even although she is at present fighting an illness.
She is a member of the "Milagros de Cumayasa" with 9 other women. They all get loans to expand their businesses. Yocasta has used the loans to increase her business. It has been very promising for her to receive the loans, which she has used to buy very comfortable chairs for her clients to sit on while she is using her hair dryer, which she also bought, to dry their hair. She has also used her loan in order to buy merchandises like shampoos, conditioners, and other items.
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