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Luz Cerito Group
In this Group: Carmen , Alba , Altagracia , Patria , Matilde Polanco
To call Carmen R. anything less than an artist would be a misnomer as she is a talented craftsman of jewelry. The bracelets, necklaces and earring sets that she makes are both unique and beautiful. While she has occasionally sold her products in the past, this is the first time that she is trying to truly scale up her efforts. She is moving her sporadically lucrative hobby to a developed business venture.

Carmen R. (far left) is a bright and engaging 50-year-old woman. She is both passionate and a true leader as evidenced by the fact that she is one of the coordinators of group Luz Cerito. Resting at the base of the tropical hills of the Los Alcarrizos barrio (community), La Pared, Carmen lives with her husband and two grown sons.

One of the main barriers that prevented Carmen from previously scaling up her work was lack of capital. She simply did not have the means to purchase the supplies she needed to make her jewelry. With this loan, she will be able to purchase these materials from a supplier in Santo Domingo, the capital, which is about an hour away from her home. Carmen plans to sell her jewelry from her house and her sister’s salon as she figures women who have just had their hair done will be feeling beautiful and will be more willing to purchase jewelry to complement their new style.

Carmen is excited about the opportunities that this loan will provide. She thinks it is wonderful that her hobby is becoming her profession and looks forward to a life that is more stable, tranquil, and peaceful. On behalf of Carmen Ramirez, the bank Luz Cerito, and the microfinance institute Esperanza International, thank you for providing opportunities to those who need them most.

This profile was written by Anne Cherniss, Esperanza International Summer Fellow ´09

Additional Information

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

  • $9,700
    Average annual income
  • 12
    View loans »
    Dominican Republic Loans Fundraising
  • $8,245,750
    Funds lent in using Kiva
  • 35.9
    Dominican Republic Pesos (DOP) = $1 USD

Success!! The loan was 100% repaid

A portion of Luz Cerito Group's $650 loan helped a member to buy supplies to make jewelry: cord, clasps, beads.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 29, 2009
Listed
Jul 2, 2009
Currency Exchange Loss:
Covered
Ended:
Jan 15, 2010