“La Familia Unida de Inversiones” or the Investment Family is a group of 15 entrepreneurs seeking their second loan from Esperanza International. The group’s past loan has been successfully repaid, and the group hopes to utilize a second loan for further business expansion. Mercedes is one of the coordinators of the group in Santiago.
Mercedes, mother of seven (ages: oldest 34, youngest 16), operates two entrepreneurial activities out of her home. Door-to-door, Mercedes sells jars of a Dominican specialty dessert made of milk, sugar, vanilla, raisins and yams and within her home she operates men’s and women’s clothing and shoes sales. Mercedes desires to see growth in her business so that she will be able to construct a better home and continue to provide for the physical needs of her spouse and numerous children.
On behalf of Esperanza and this group of business entrepreneurs, we would like to thank you for your support!
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.