Asociacion De Cristo #5-8 Group
Lucia and the other women in Asociacion D. Cristo live in Boca Chica, a town between San Pedro and Santo Domingo, the capital of the Dominican Republic. Boca Chica is known for tourism and visits to the beach, and Lucia has taken advantage of that trend by running a business selling bathing suits. She will use this loan to buy the bathing suits at wholesale prices, and then sell them at a small markup.
Lucia has seven children. She lives at home with her husband and four of her children, and it can be a crowded place. She hopes to make additions to her home so that there is more room, and she also hopes to one day own the building where she runs her business.
Lucia has successfully repaid four loans with Esperanza International, and she is excited to be taking out her fifth. Lucia said that she and her family “have overcome everything to get to where [they] are”. She is very thankful for Esperanza, not just for its loans but also for its “lower rates, savings, and the clinics” that are provided to all associates. Thank you for lending to Lucia and the Asociacion D. Cristo 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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