"La Amistad" is a large group of men and women receiving loans. This particular loan is going to 15 of the group members. This group is a great example of the success that microcredit can bring. The members of this group are looking for their seventh or eighth loans, and all have had a taste of success. Each member started out with virtually nothing, but now each has a small business and great hope for the future. Inocencia is the group representative, and she has a small clothing business. She is an extremely hardworking mother of four children, and is really excited about the way her business is going. She feels like she can proviD. for her family, and that is a feeling she has never had before. She dreams of all her children attending universities, and she is on her way to fulfilling that dream. This whole group is all moving up in life, and want to continue expanding and growing their businesses. Everyone is excited about the future and what it will bring for this hardworking group.
On behalf of Inocencia, 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.