Unidos Para Triunfar 1, 2 Group
Wendy, mother of three children, ages 18, 14 and 11, has been selling Dominican-style cooked meals from her home for the past two or three years. Wendy plans to use her loan to purchase additional ingredients including rice, beans, oil and plantains, to continue to serving lunchtime food to her customer base: around 25 customers daily. Wendy is committed to the repayment of her loan as she desires to provide for the physical needs of her children and dreams of one day opening her own restaurant.
Other members of Wendy’s microfinance bank run similar entrepreneurial activities including clothing, perfume, desert and juice sales as well as a beauty salon.
On behalf of Esperanza and this group of business entrepreneurs, we would 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.
About Dominican Republic
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Success!! The loan was 100% repaid