Barbara A. is the bank coordinator for a group of 5 in the Sabanalamarinos Unidos Bank of Hope in Hato Mayor, Dominican Republic. She has three young children ages 3, 5 and 7. She sells clothes in her small business. She has already received four loans from Esperanza and is about to receive her fifth loan. With these loans she has been able to invest in a freezer and a gas cylinder. She would like to increase her sales volume and the clothing variety available and hopes to one day open her own real store. Her dream is to have a house of her own where she can see her children grow up. Thank you for supporting this loan!
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.