Mujeres en Gloria 1 is a group consisting of 5 strong women who want to take out a loan. This is not a gift they are asking for, but a loan from which they can start their own small business. In the area they come from, credit is not readily available unless they borrow from a loan shark who charges unreasonable interest. In the immense poverty they live in, it is hard to find jobs and hard to support a family. For that reason Mujeres en Gloria are hoping to receive a loan and start their own business. This group is ready to work to try and break the chains of poverty.
Isaura N. is the group leader and their representative, and she is very excited about being given the honor. She lives with her husband and her one child. She has not had an easy life. She has had to live in extreme poverty her entire life. Isaura received a high school education, which is more than most in her area. She knows that education is something that is very important if you want to break out of poverty, and for that reason she dreams of sending her child to a university someday. Isaura has a small food stand where she sells items she cooks, but with a loan she will be able to increase the variety of food she sells, and hopefully increase her profit. She is an intelligent, hard working woman who wants nothing more than to improve the life of her child. She is ready to expand her business and is excited about the opportunity. She knows this is the first step in achieving her dream of putting her child through college, and she is ready to take the first step. On behalf of Isaura, 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.