Las Maria Group

Thank you for your loan. It has been disbursed to the Las Maria group, consisting of Antonia Acosta, Gricelida Taverez, Tomasita Espino, Graciela Vasques, Cecilia Garabit, Lucia Encarnacion, Barbara Seberino, Alexandra Monegro, Angela Payano, Juana Encarnacion, Marianela Drullard, Gilda Cancu, Melisa Espinal, Juena Luis, Constanza Bueno by Esperanza International, a partner of HOPE International in Dominican Republic. We are excited to watch this business grow. Over the next 6 months, Esperanza International, a partner of HOPE International will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Dear Kiva Lenders,

I had the opportunity of recently visiting Antonia's home in Rio Los Cocos, Samana. A bank meeting was being held, and they were discussing the acceptance on the group of some new members from another community that have moved to their area.

Antonia was one of the very first clients that Esperanza International had in Samana. she is recognized as a leader inside her group and her group mates trust her judgment. She is also known for promoting solidarity not only in the group payments, but also in their business practices. When I asked her if she had found competition from other people who had similar businesses, she said no. She has no problem in sending someone to another store if she can provide the merchandise they are requesting (but will make sure to get it on her next inventory!)

Antonia also explained me that thanks to her group mates she has made some new business relationships. Now she can receive her supplies at her house, from suppliers that pass by on their way to Samana City.

During the meeting, the group members also discussed what loan amounts they are planning to take on their next loan. Everyone asked for Antonia's advice; in some cases she recommended some of her group friends not to take higher loan amounts on their next cycle. She thinks the current situation forces them to be cautious and stay with loan amounts they know they can pay successfully, like this one they are currently repaying. Marcelina (their loan officer) and I had a very enjoyable time at this meeting and were very impressed at their capacity of consensus to make decisions favorable to everyone.

We believe that microfinance and solidary credit is not only about giving people a loan for their small businesses; it is also a mechanism to build leadership and a great lesson on teamwork, like we see in the success experimented by the members of Las Maria.

Thank you for supporting this Kiva loan!

Best regards,

Analin J. Saturria - Kiva Coordinator for Esperanza International.