This group of five micro entrepreneurs is applying for its sixth loan through Esperanza International, Kiva's partner. Their business activities go from a grocery store, to selling shoes and undergarments, even a car repair shop.
Please help us to continue supporting these entrepreneurs. Thank you!
Ivelisse T., the group coordinator, owns a small convenience/grocery store in Hato Mayor. She normally sells traditional items for daily lunch and dinner, like rice, beans, cooking oil, fruits and vegetables, and some spices. This loan will help her keep her inventory in good shape in order to meet her growing clients' demands. Ivelisse hopes to own a house someday, maybe one where she has a larger space for her grocery store.
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.