La Buena Union 1, 2 And 3 Group
S. is 51 years old and lives alone in a rural area near Sabana D. la Mar in the Dominican Republic. He lives in a house maD. of wood with cement floors. He has unreliable access to running water and electricity. S. has two sons that are grown and live on their own.
This will be S.' first loan with Esperanza. He is a farmer and plans to use the money to buy farming tools and seeds to plant. He will then sell his fruits and vegetables to local merchants. He hopes to be able to produce more with the supplies he purchases with this loan so that his business can grow. S. would like to continue to work hard so that he can improve his living conditions. Specifically, he would like to make improvements to his house. His roof and walls leak when it rains and he hopes to be able to repair the roof and someday build a house with cement blocks.
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