Mata De Palma En Desarrollo 2 & 3 Group
Carmen is a mother of four children who live together with her and their father. She said that her most difficult challenge was to create her business. In the past it was very difficult for her because she didn't have or know how to save capital to start, but after she found Esperanza and took out her loans, she was able (like other members in this group) to open her business.
Carmen is excited about her 18th loan with Esperanza. After almost nine years in her business, she has expanded her little butcher shop into a bigger one, with more quantity of meat to supply more clients. With this loan she will buy beef, chicken and pork to sell in her business. She will use the profits to invest in her butcher shop, and she will continue saving part of it to make one of her dreams come true: to finish building her house. She dreams of having a nice house and a successful business with employees.
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