El Gran Esfuerzo 4 & 5 Group
Rosa has two children and they live together with her father. She tells us that her greatest challenge now is to have her own house. She loves going to church and to work. Rosa is very excited to be receiving her 12th loan from Esperanza Internacional, after having satisfactorily paid off her previous loans and thereby given a step forward in the growth of her business. She has had her business for almost 11 years. She set up her business with a small amount of savings which she was keeping for business purposes and she started growing it with her first loan from Esperanza.
Rosa is planning to invest her new loan in buying clothes, especially for the coming Christmas season. She plans to use her profits to buy things she needs and start building her house.
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