La Casa Del Ahorro Group
L. is 27 years old and has five young children, ages 9, 7, 5, 3, and 2. She has a small business selling new clothing to her neighbors and friends. Fashion is very important to Dominicans, and L. has tried to capitalize on the latest trends. With this loan, she is going to buy the newest jeans and blouses which she will then sell to her customers. This is L.’s second loan with Esperanza, and she hopes to have more in the future.
Since Guerra is small and located in the interior of the country, it is difficult to access and lacks most utilities. Electricity is unreliable at best, there is no potable water, and sanitation is questionable. Despite these difficulties, L. hopes to raise healthy children with opportunities for a good education. She also hopes that with an expanding business, one day she will be able to have her own shop. Thank you for your loan to L. and to La Casa del Ahorro 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