Nueva Esperanza Group
The association “Nueva Esperanza” (“New Hope”) needs to grow its sales so they can buy raw materials. They are certain of their ability to generate added income, with the final aim of improving their standards of living.
La asociación Nueva Esperanza” necesita ampliar sus ventas por lo que necesitan comprar materia prima, tienen la certeza que generaran mayores ingresos, únicamente con el fin de mejorar su calidad de vida.
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