La Buena Vecina 1 Group
Andrea is planning to invest her new loan towards purchasing hair and beauty products, a hair dryer and other beauty salon supplies. She is going to use her earnings to continue saving and increasing her inventory. She is dreaming of having a large beauty salon with all services and an improved business in order to provide her children a better and safer life.
Andrea is a single mother with two children. She tells us that her most difficult challenge has been to raise her children alone. She loves to watch television and to be with her children.
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