Los Laureles 1 Group
Pressina, like many of the group members and the people who live in her area, is a Haitian inmigrant. She barely has elementary school education. Pressina sells clothes as her micro-business. Some of the other group members´ businesses are food stands and small grocery/convenience stores. Pressina hopes that taking loans to expand her merchandise and be able to satisfy a larger clientele will allow her to be financially independent one day and live in better conditions. She also hopes her business reaches a point where she makes enough profits to help others in need.
Thank you for supporting these entrepreneurs!
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