Sandra F. is a single women who has two children whom she takes care of all by herself. Unfortunately, where she is from it is very common for the dads to leave their families. So now she is alone to try and take care of her young children. The hardest part is that she does not have a steady income and has to do all sorts of things to provide food for her kids. She recently came to Esperanza International (Kiva's Field Partner) to seek a loan so she could start her own small business and start earning an income. She plans on selling small food products in her area, such as rice, salt, bread, and other small items. She is confident in herself that she can grow her business and hopes to someday have her own grocery story. She said she wants nothing more than to provide a good life for her kids because she loves them more than anything else. She is a great mother and knows this is her opportunity to change her life, and also the lives of her children. She and the other 14 people in this group are all excited about this opportunity, and ready to take this first step!!
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.