Mujeres Del Nuevo Renacer is a group of 15 very eager women who are all ready to start their own businesses. Balbina S. is the chosen representative of this group, and is very proud to be leading her friends. Balbina is a hardworking mother of 2 young children. She is planning on using her loan to start a small beauty salon from her house. She hopes to have a thriving business one day, and her dream is to have enough money to remodel her house. She wants to be able to provide her family with all the basic necessities and live a comfortable life. These women all realize that this could be their chance to change their future, and all of them are ready to take the first step in bettering their lives. On behalf of Balbina, the group, and Esperanza International, thank 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.