Maria K. is the representative of this group called "luz en la tiniebla". She was chosen because she is a very hardworK. lady and is a perfect example of the type of person microcredit tries to work with. She is living in extreme poverty and trying to provide for her five young children. Each child is under the age of 16, and she even has a baby of nine months to care for. She realized that she wanted to be able to provide a good life for her children and hopefully get them out of their poverty. She is taK. out a loan to try and make this dream a reality. She wants to start a small business maK. and selling clothing in her neighborhood. She dreams of increasing her business into a thriving clothing store. Her dream in life is to send all her children to college and have them be able to live out their dreams. She is very excited about this first step to a better life and is ready for the challenge!
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.