Mujeres Que Luchan Por El Progreso Group
Leoncia, mother of 5 (ages: youngest 16, oldest 30) resides in Santiago and plans to split her loan funds amongst three different entrepreneurial activities. For as long as she can remember, Leoncia has been selling corn and ice-cream from her house and to local “colmados”, or small grocery stores. In addition to this business, Leoncia plans to finalize the start of two new product sales: candy and shoes. Leoncia will make her own candy from her house and similarly to her corn and ice-cream sales, will sell the candy in two different-sized packages from her home and at local colmados. Leoncia will also sell shoes for men, women and children through catalog sales. Leoncia is dedicated to the repayment of her loan since she wants to own her own home.
Other members of Leoncia’s microfinance bank run similar entrepreneurial activities including undergarment, fried food, accessory, and cloth 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