Lucila Garcia's Group

Lucila is an old woman and a proud mother of four children, all of whom are in their twenties. Lucila lives in the San Luis community of Santo Domingo with her husband. She wants to start a small business as she’s unemployed and her husband’s salary can hardly support the family’s needs. Lucila explains that it’s not easy to get a loan from the banks as she doesn’t have any goods to offer as security. She also says that microcredit lenders operating in the community are charging very high interest rates and demand the borrowers repay weekly.

As soon as she took notice about our loan conditions, Lucila looked for four other women so that they could take advantage of this opportunity. With her funds, Lucila will build a small business selling underwear and costume jewelry. She believes that she’ll have success in her endeavor as she had been selling before and acquired a lot of experience. Lucila hopes this business will be her starting point to success and a radical change of her family’s living conditions.

Lucila will receive the loan with these following women: Mercedes Martinez Reyes, who will invest her loan to build a small business of selling shoes; Ines Diaz Lopez, who operates a small clothing store; Isabel Rosario Reyes, who sells clothing in her community; and Maria De Las Nieves Baez Nuñez, who’ll start selling pants and shoes as soon as she gets her loan.

Picture, left to right: Lucila, Mercedes, Ines, Isabel and Maria.



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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