"Las Maria" is one of the prime examples of the good affects of microcredit loans. Every member of this group of 15 is applying for their 7th loan! Each member took out their first loan from Esperanza International having virtually nothing. Now, going on their 7th loan, each member has had success with their very own business.
Antonia A. is the chosen group representative and has proven to be a great leader and a blessing to the group. She is a very hardworking woman who is very diligent in everything she does. She is the mother of 5 children, and they were the reason she took out her first loan. She has always wanted to provide a good life for her family, and for the first time in her life she is starting to be able to provide for them. She looks for this next loan to increase her business and to continue to grow. She dreams of being able to travel and having her own thriving food market someday. On behalf of Antonia, the rest of the group, and Esperanza International: 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.