“Mujeres con Esperanza”, or Women with Hope, is a group of fifteen entrepreneurs seeking additional loan funds from Esperanza International. The group’s prior loan has been successfully repaid and the group hopes to use additional loan funds for further business expansion. MarieL. is one of the coordinators for this group in Santiago.
MarieL., mother of two and proud grandmother of three grandchildren (ages: 13, 6, 3), lives with her husband and sells beauty products. With funds from her prior loans from Esperanza, MarieL. has been able to establish a loyal customer base and her customers are able to buy her beauty products on credit and pay for their purchases at the end of the month. This agreement allows for a flexible payment system and has been very successful for MarieL.. MarieL. plans to use her next loan to purchase additional beauty supplies to increase her inventory. MarieL. dreams of a “beautiful house” and plans on using her profits towards that goal.
Other members of MarieL.’s bank run similar entrepreneurial activities including ice cream, clothing and perfume sales, as well as small restaurants.
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.