Bianca is one of the members of the group El Progreso 1, 2, 3 & 4, made up of 20 micro-business owners. They all work selling clothes, natural products, shoes, food, etc. This is Bianca's second loan from Esperanza Internacional, after having paid off her previous loan satisfactorily and taken a step towards business growth. She has had her business selling underwear for around five years. She started the business with her own resources.
Bianca is planning to invest her new loan towards purchasing underwear at wholesale. She is going to use her earnings to continue saving and increasing her inventory. She is dreaming of having an improved business in order to provide her children a better and safer life. She is a single mother with three children. She tells us that her most difficult challenge has been to raise her children alone. She loves to watch television and to be with her children.
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.