Esperanza Y Esfuerzo 3 Group
Estela is 64 years old, and lives with her husband and her granddaughter. Estela owns a small colmado, what the locals call a small general store. Colmados can sell anything from laundry detergent to soft drinks, and typically there is one on each street in a neighborhood. Estela sells several things in her colmado, including medications, clothing, and foods typical of the Dominican cuisine such as rice, beans, bread, and oil for cooking.
Estela is very thankful for this loan, her fifth with Esperanza. She has a perfect track record so far, and the experience with her loans is helping her to expand her business. With this loan, Estela is going to purchase prepaid cell-phone cards to sell to people in her neighborhood. Rather than having cell-phone “plans”, most Dominicans use prepaid cards, so her products will be in high demand.
Estela has already helped her daughter attend university, and she hopes that this loan will help her granddaughter have the same future. Thank you for lending to Estela and the Esperanza y Esfuerzo group!
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