Creciendo En Fe Bank Of Hope Group
Ines sells ice cream. Her best-selling flavors are cream, apple, grape and raspberry. She also sells juice and snacks in a small cafeteria. Her next project is to hire two or three street vendors to sell her ice cream around the nearby areas.
Felicia is taking her very first loan. She does her business on foot as she doesn't have a space to sell her clothes. She would like to rent a space to set up a store. With this loan she will buy one big bundle with varied clothing types. ''Let's see how it goes,'' she says with a hopeful laugh.
In all, this Bank of Hope has fifteen members--three groups of five. They live in Guaricanos, a large slum located on the northern outskirts of Santo Domingo, Dominican Republic's capital city. There are three group coordinators in this Bank; one per five members. They are Maria P., Ines M. and Felicia A..
We would like to thank you for supporting this Bank of Hope.
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