Palave En Accion Group
Nancy has a small business selling shoes and clothes to her community. She is requesting a loan so she can have enough capital to buy more merchandise in bulk, and be able to better meet the needs of her clients. Without the loan, she is limited in her ability to buy enough merchandise to earn marginal amounts of money that don’t allow her the room to invest in her business, much less accrue savings for her family.
She hopes this loan will help her move her life forward, so that by the end of the year she will be able to have a much bigger business, help proviD. better education and school supplies to her three children, and maybe even save enough money so that she and her husband will be able to buy their own home.
On behalf of everyone here at Esperanza International, and from Nancy herself, we thank you for your support with this micro loan!
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