Canal De Bendicion 1-3 Group
Marcelo runs a successful small business selling new clothing to her friends and neighbors. The most common form of clothing sales in the Dominican Republic is used clothing, usually from the U.S., but Marcelo has differentiated her business by only selling the newest styles. With this loan, her fourth with Esperanza International, she hopes to continue investing in her business, continually expanding her items offered and keeping up with the latest trends.
Life in La Romana can be harsh – electricity is scarce if available at all, running water is never potable, and the hurricanes that rip through the Caribbean typically hit this side of the island first. Despite these difficulties, Marcelo keeps a positive attitude toward her business. She hopes to continually grow her business, and she is very grateful for the support given to her by Esperanza. Thank you for lending to Marcelo and the Canal de Bendicion 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