In this loan there are five women from the larger group "Shalom" who are applying for a loan. Each woman has tasted a little success in her business, and wants to continue to increase its size. Gloria is the representative of the group, and has three children she has to care for by herself. She is a very diligent worker and has always made her loan payments on time. She has a small food market where she sells a variety of products. She hopes to continue growing and open a larger store soon. She finally feels like she can take care of her children, but now she dreams of providing them a happy, healthy, and comfortable life. She is very dedicated to her children and wants nothing more in the world than for them to succeed. She would love to send her children to college so they can have a better life, and get out of their cycle of poverty.
On behalf of Gloria, 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.