This Kiva loan will be for a full Bank of Hope with a total of 15 members. This will be their first loan with Esperanza International. They are all looking forward to starting or reinforcing their business activities. Expanding their businesses represents a challenge for them; in their own words, "the economy is not good and not proper for most businesses". However, they remain optimistic and are willing to work hard.
The coordinators for the three groups of five are Ligne L., Emilia M., and Wilson F.. The three of them are in sales but each sells a different item: Ligne sells vegetables, Emilia sells hair extensions and weaves, and Wilson sells clothes. Emilia and Wilson are parents. Emilia has an 8-year-old child and Wilson's child is 9 years old. They all have a common dream: own a house one day.
Please help us support this new group of entrepreneurs. 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.