La Superacion Grupo 2 Group
Currently, Miguelina is only able to purchase a limited amount of clothing, which prevents her from taK. any large steps in successful development. It may come as a surprise to some, but the business of selling used clothes is a huge business. Thousands if not millions of Dominicans rely on used clothes for the clothes on their back. This is one of the reasons Miguelina believes she will be successful with a loan to grow her business.
Miguelina hopes that in the future she will succeed with this first loan, and she will be able to move on with no end in sight. Her dream is to someday own her own store, selling not used clothes but new, fashionable clothes. She sees Esperanza as the only way she can get on this path.
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