This Bank of Hope group is requesting their 7th loan for their micro business. They have shown great responsibility paying their previous loans so Esperanza has approved the amounts they have requested. They think this new loan will help them continue with the stability they've had in their activities ever since they've been Esperanza clients.
Nuris D. is the group coordinator and she sells clothing and shoes. She will use this loan to purchase clothes and shoes her customers have already requested. She's made this her sales method to ensure she doesn't buy more merchandise than necessary or more than she is certain she will sell.
Nuris hopes to improve her economic condition and give her teenage children better opportunities than the ones she had. Her main goal is to take 50,000 pesos in an upcoming loan to set up a store (her current loan is for 15,000 pesos).
Please help us continue support these entrepreneurs through this Kiva loan. Thank you!
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.