Santa's Group

Santa is the gorup coordinator of the Banco de Esperanza (Bank of Hope) Hondonada. Her story representative of both her group and of Esperanza's Hatian (many of whom have recently immigrated to the DR) and Dominican clients. The group is based in Los Alcarrizos a dusty industrial town north of Santo Domingo where running water (none of which is potable) and electricity are unreliable at best. Here she makes her home in a simple structure made of wooden walls and a tin roof which she owns but does not have title to. She lives with her husband and one child.

She has come to Esperanza with the goal of growing her business of supplying salons in her neighborhood with hair products. With this loan she intends to purchase more hair products including shampoo, rinse and hair gel. She believes that this will allow her to supply more salons and to distinguish herself by always having what is needed in stock and providing high quality products. With her augmented profits she intends to purchase notebooks, books and to provide the figurative "milk" for her children. In the long term she would like to continue growing her business with Esperanza to the point where she can sell more products, reach more clients and eventually have the profits to purchase her own home.



About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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