The “Fenm Vayan” or “Valiant Women” Group is a made up of twenty-five male and female entrepreneurs, twenty of which are taking out a second loan.
After successfully repaying their first loan, they are looking forward to continued success and growth in their businesses. Their businesses range from used clothing and jewelry, food sales, to charcoal production and sales.
Jina J. is one of four representatives of the group. She is married with two children, ages 7 and 1.5 years old.
She sells used footwear and used clothing that she buys in bulk from the Dominican Republic to sell in her local marketplace. Jina used her first loan to increase her inventory because there is more of a profit margin when she buys in bulk. She dreams of expanding her business to to sell in multiple cities and hire employees. On behalf of Jina, Fenm Vayan, and Esperanza, we 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.