Pasos Firme Group
Avelia is not alone in her quest to succeed through entrepreneurial activities. Avelia is a member of the micro-finance bank “Pasos Firme”. All the members of the bank are illiterate. Along with the four other women, Avelia is seeking additional loan funds from Esperanza to encourage growth in her business. Other members of Avelia’s microfinance bank run similar entrepreneurial ventures including selling peanut butter and assorted food sales.
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