Peniel 3 Group
Luchi’s mother and her three sisters are clients of Esperanza International. Luchi’s mother, Brigida, is the group coordinator for the group 2 from this same Bank of Hope. Her sister Tania is in this same group.
Luchi sells products from a catalog. She sells leather purses, shoes and belts. She explained to us that there is a new campaign coming up so she will use the loan to purchase merchandise from the new catalog in order to offer her clients the latest styles.
Luchi’s biggest challenge is her children’s education. This is why in spite of being so busy selling her catalog products and visiting her clients, she helps her children (two boys, ages 5 and 8) with their homework every day. She is a very dedicated businesswoman and mother with two goals: providing her children with the best education possible and, along with her catalog sales, having her own boutique/beauty salon.
On behalf of Esperanza International and this group of micro entrepreneurs, we’d like to 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.
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Success!! The loan was 100% repaid