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Fuente Para El Desarollo 1 Group
In this Group: Reyna, Carmen , Felix , Yosari, Miladis
Reina is the group coordinator of the Banco de Esperanza (Bank of Hope) Fuente para el Desarollo (Source for Development). Her story is representative of both her group and Esperanza's Haitian (many of whom recently emigrated from Haiti to the DR) and Dominican clients more generally. Her group is based in the SamanĂ¡ peninsula in eastern Dominican Republic, in an area where both running water (none of which is potable) and electricity are unreliable at best. Here she makes her home in a simple structure of wooden walls and a tin roof, with her husband and young child.

Reina came to Esperanza originally because of the low interest rates and ability to save money in a secure place. She has become a trusted Esperanza associate and this will be her ninth loan with Esperanza. She will use this loan to invest in her business selling clothing by purchasing a dozen each of blouses, skirts and pants. She sells her clothes in her neighborhood to neighbors and friends who have become trusted customers. Her business has proved itself profitable and is her family's primary source of income.

With the profits from her business she plans to continue investing in her business,replacing her walls with concrete (a benefit for any home in the hurricane prone DR) and to purchase notebooks, uniforms, shoes and clothing for her child. In the long term her goal is to continue remodeling her home. She thanks you all for your support.

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
  • 8
    View loans »
    Dominican Republic Loans Fundraising
  • $7,988,425
    Funds lent in using Kiva
  • 36.1
    Dominican Republic Pesos (DOP) = $1 USD

Success!! The loan was 100% repaid

A portion of Fuente Para El Desarollo 1 Group's $1,875 loan helped a member blouses, Pants and skirts to sell.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 11, 2009
Listed
Sep 29, 2009
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2010