"El Amor" is a large group of 25 borrowers. In this loan, 5 members of this group are hoping to receive their third loan. The first two loans helped each of these members start a small business, and all members started to experience a little bit of success.
Martina R. is the group representative, and a perfect example of the power of micro credit. Martina took her first two loans and started a small business selling used clothing. She has really increased her business, and is finally starting to feel able to take care of her family. Martina is the mother to 4 children, and would love to send all her children to college someday. She is very excited about the things that are starting to happen in her life, and ready for the challenges ahead.
On behalf of Martina, 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.