La Union Hacia La Fuerza Group
Ramona is not alone in her quest to earn a profit through entrepreneurial activities. Ramona is a member of the ten person microfinance bank, “La Union Hacia La Fuerza”. This group’s past two loans have been successfully repaid, and the group, including Ramona, hopes to utilize a third loan for further business expansion.
Ramona, mother of four children (ages 9, 11, 12, and 14), desires to see growth in her business so that she may continually provide for her children. Her husband, a street vegetable vender, desires the same and together, success is aspired for.
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.
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Success!! The loan was 100% repaid