Dienona Y. is one of the hardest working women we have met, not the least reason is she's the proud mother to 12 children! However, having 12 children brings a lot of expenses, and when you are living in extreme poverty it is very difficult to pay all those expenses. Dienona came to Esperanza International in need of help, hoping to receive a loan to help start her own business. With her first loan she started a small school in her area and received enough students to pay back all her loans and also start educating her kids. Since that first loan, she has taken out three other loans and is now seeking her fifth. She has increased the size of her school and can now afford to start saving money while also helping many kids get a quality education. The best part is she is able to teach all her children, and hopefully help them have a better future and get out of their poverty. She is very happy with what she does and wants to keep increasing the size of her school. She dreams of having a giant school teaching thousands of kids and hiring more teachers. She is excited about this next loan and knows it will help her continue reaching her dreams!
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.