Nuevo Progreso 1 & 2 Group
Enercida is excited to be taking her seventh loan with Esperanza, after having successfully repaid her previous loan and grown her business. She plans to use this loan to invest in her business selling a well-known brand of cosmetic products through catalogs and also selling second-hand clothing. She will purchase a bag of such clothes and different cosmetic products to be show in a product display stall, which she also will buy with this loan. Enercida is planning to save part of her business profits to get a site for her business, because she wants to improve her business.
Enercida dreams of having her own house and of seeing all her children go to school and become professionals. She thanks all of 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.
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Success!! The loan was 100% repaid