"Luz y Esperanza" is a group of borrowers who are all living in extreme poverty, but are on the path to changing that fact. Each member of this group has already started their very own business and is on the path to changing their future. Some members in this group are hoping for their 7th loan and continuing to increase their businesses in size. The businesses in the group range from clothing sales, restaurant, colmado (small grocery store), to a beauty salon. This whole group includes very diligent workers and is excited about this next loan!
Martha T. is the representative of this group and also a very outspoken leader. She is a hardworking mother to three children all under the age of 23. She said that her children are her motivation to work hard and all she wants is a better future for them. She started a small business selling clothing in her area. She goes to another city to buy clothes at a good price, then returns to her area and sells them for a profit.
She has experienced success, and has for the first time started saving money for the future and for her children. She is able to do this saving while also feeding her children and providing them the basic necessities they need. She is excited about her business and finally feels like a proper provider and a person with purpose.
She is very excited to see what the future holds for her family, her business, and for her! This next loan is just going to help her business grow!
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.