The members of Group 6 from David Bank of Hope are starting their second loan cycle with Esperanza International. Four of them are involved in retail sales, selling clothes and personal care products. Altagracia N. makes bread and pastries at her home for sale.
Yaquelin Y. is the group representative. This young mother of 5 children (ages 8, 5,3, 2 and 5 months) sells clothes to support her five children. This is not an easy task, since she is a single parent. Her children, being so young, require a lot of attention; so it becomes very challenging for Yaquelin to run her business.
Yaquelin doesn't want to sell clothes forever. She dreams of running a big convenience store one day. She hopes that the profits from her business will allow her to support her children's education. She hopes at least one of them decides to become a doctor.
Thank you for supporting the hard work of these entrepreneurs!
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.