Llegando Lejos (Going Far) Groups 1 & 3
By receiving loans, she and the other members of the Bank of Hope are better able to survive the economic fluctuations and frequent sicknesses that make work hard and volatile. With this next loan, Eugenia hopes to further grow her business by buying more chickens and travelling to more bateys. Someday she dreams of owning her own house. Eugenia also wants to be able to provide the best for her children, including a good education, so that they will have a bright future.
Eugenia is part of the Llegando Lejos (Going Far) group. The Bank of Hope with Esperanza International supports six groups in total, two of which are requesting new loans now.
Note: This is a group loan to 10 people.
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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