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La Union Lo Vecino 1, 2, & 3 Group
In this Group: Ramon, Nancy, Alejandrina, Andreyna, Bernabela*, Teodocia, Teodoro, Jose, Germitania, Jose, Reyna, Alexandra, Ysanta, Cristino, Mercedes
* not pictured
Ramon C. R. is a borrower from the city of San Pedro de Macoris in the Dominican Republic. He is the coordinator for his group of borrowers, and his story represents similar businesses run by others in his group. Ramon is 35 years old, and has an 8 year old son, a 3 year old daughter, and a brand new baby girl who is just one month old. Ramon lives with his children in a home he rents on the bottom floor of his building. He also rents space for his shop in the same building.

Ramon is an electrician who builds inverters for his community. He has run his own business for the last four years, and hopes to continue expanding in the future. Power outages, humidity, and older electronics mean that his skills as an electrician are needed frequently. With this loan, Ramon hopes to build 20 electronic inverters that he can sell to his customers. This will increase his profit margin and allow him to expand his business.

In the past, Ramon's only loan options charged him huge amounts, as much as 20% per week. These loans were not feasible for him, but now through Esperanza his loans have become extremely helpful. In the future, he hopes to expand his business by hiring an employee and expanding his business to the sales of batteries and other electronics. This is Ramon's second loan through Esperanza, and he hopes that it will not be his last.

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

  • $7,611
    Average annual income
  • 4
    View loans »
    Dominican Republic Loans Fundraising
  • $7,840,950
    Funds lent in using Kiva
  • 35.9
    Dominican Republic Pesos (DOP) = $1 USD

Success!! The loan was 100% repaid

A portion of La Union Lo Vecino 1, 2, & 3 Group's $4,100 loan helped a member to construct 20 more inverters.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 15, 2009
Listed
Sep 16, 2009
Currency Exchange Loss:
Possible
Ended:
Apr 15, 2010