Vecinos Unidos 1,2, &3 Group
Maria is excited to take her first loan from Esperanza. She plans to use this loan to improve her business, selling used clothing. She has over two years experience and believes that there is a market for her new inventory. She hopes to use the profits from this business to purchase an inverter (to deal with the long periods of blackout), home appliances and a computer for her children. She recognizes that all of these goals will take time but as she develops her business, she hopes to accomplish all of these goals including her long-term goal of having her own vehicle and a better home.
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