Banco Maranatha is a group of 15 entrepreneurs who are looking for their third loan from Esperanza International. With their first two loans, all the members were able to start their own businesses. They are now looking to expand their businesses and really start improving their lives. So far everyone in this group has had some success and has been able to pay all the loan fees on time.
Marie L. is the representative of this group, chosen because she is a great leader and a hard-working woman. She is the mother of 3 children. Her children are her life, and she wants nothing more than to provide them with a comfortable life. Marie started a small business producing and selling food. Her dream is to live with her family in their own house and to be able to travel someday. She can't wait for this next loan because she feels that it will really help her business go to the next level.
On behalf of Marie, 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.