Hacia Al Futuro 1 & 7 Group
Anna lives with her husband in Boca Chica, a small town west of San Pedro. They have a nice home by Dominican standards, with cement floors and walls and a metal roof. Life in Boca Chica can be difficult, without access to potable water or reliable electricity. Despite any hardships, Anna runs a small business from her home, selling clothing and shoes. With this loan, her third with Esperanza International, she will be purchasing the latest styles to sell to her friends and neighbors for a small markup.
Anna is very thankful for her new access to credit. She had taken out loans before coming to Esperanza, but switched because the rates were better and a loan came with free health services. Anna said that her loans have helped her business very much, and that she and the members of her group have all learned to be better businesspeople. Thank you for lending to Anna and the Hacia al Futuro 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