Martha S. has lived a very difficult life. Her whole life she has been living in extreme poverty and has not found a way to generate a steady income. She is a 55-year-old single mother of two children. She came to Esperanza International in hopes of receiving a loan so she could start her own business, and she sees this opportunity as a way to change her fortune and to give her a purpose.
She has always wanted to be able to provide a good life for her children, and be able to travel and have her own house. Martha is going to start a small business selling clothing in her area, and is so excited to get started. She is going to buy cheap clothing and fix it herself to sell. She really feels like a change is coming for her and her family, and she is ready to do whatever it takes. She is a really hardworking woman. We are all excited about her future!
Martha represents a "Bank of Hope," of which she is one of 10 members.
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.