La Esperanza El Coco 1, 2, 3 & 4 Group
Menenciana is planning on investing her new loan in the purchase of cosmetics and clothing. This is her 12th loan with Esperanza Internacional, and she will increase her inventory. She will use her profits to continue investing in her business to improve sales, and to provide for her family's needs.
Menenciana's family is made up of her and her 5 dependents, including her children and other of her family members. She says that her most difficult challenge has been to have a successful and sustainable business that generates enough income to support her and her family.
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