Bonifacia Y. is the leader for the group called Mujeres Emprendedoras, which means in English, “Enterprising Women.” Bonifacia is the owner of a small convenience store and is going to buy clothing and shoes to sell in her store. Bonifacia and her partner named Modesto S. are the parents of three daughters in their twenties, and grandparents of five grandchildren ranging in ages from four months to seven years. She hopes to see continued growth for her business and be able to proviD. more for her family.
She hopes someday to be able to fix up her house and improve it by adding various things. In her free time, Bonifacia enjoys reading her bible and helping the sick in her community. This is the first loan for Mujeres Emprendedoras and they are excited for this opportunity.
On behalf of Bonifacia Y., Mujeres Emprendedoras, and all of us here at Esperanza International, thank you for your interest in these entrepreneurs and 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.