Real Progreso 4 Group
Carlos is the group coordinator for Banco de Esperanza (Bank of Hope) Real Progreso (Real Progress). His story is representative of the others in his group and more generally of Esperanza's Haitian and Dominican clients. Santos and his group live in Agua Blanca, a rural community in the El Seybo province of the Dominican Republic. The community is largely made up of Haitian immigrants. Carlos can speak, read and write in Spanish, but several others in the group (and many more in the community) are illiterate. Agua Blanca is a very poor community that has unreliable (at best) access to electricity and running water.
Carlos has proven to be an excellent Esperanza client and this loan will be his sixth. Carlos would like to thank you for your support!
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