Fe Y Amor 4 Group
Carmen and her husband have two children and live in a simple home in Santiago, the second largest city in the Dominican Republic. Urban areas of the Dominican Republic are highly overcrowded and can be rough, with no potable running water, frequent power outages (if one has power to begin with), and inadequate health care. Despite these difficulties, Carmen runs a successful “salchicha” (hot dog) stand. With this loan, she plans on purchasing more hot dogs, bread for buns, and a new stand to display the hot dogs and other sandwiches.
This is Carmen’s second loan with Esperanza International, and she hopes to continue taking out loans to expand her business and improve home life for her family. With her profits, she hopes to purchase a stove for her home and some shoes and books for her children. Carmen also hopes to add some fun around the house by purchasing a pet for her kids, while also teaching them about responsibility and ownership. Carmen has high hopes for her children, and with profits from her loans, she is confident that they will receive a great education and attain a step up in their lives.
Esperanza International seeks to free children and their families through initiatives that generate income, education and health, restoring self-worth and dignity to those who have lost hope. We have over 8,500 active associates in eleven offices in the Dominican Republic and Haiti. Thank you for lending to Carmen and the Fe y Amor 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