La Unidad 4 Group
Dominga is excited to be taking her third loan with Esperanza after having successfully repaid her previous loans and grown her business. She plans to use this loan to invest in her business running a colmado (small corner-store) by supplying it with more merchandise of the basic necessities such as rice, beans, cooking oil and matches.
Dominga will use the profits to invest in her children by purchasing school supplies. Her longterm dream is own her own home and she hopes that by utilizing savings through Esperanza she will attain that. She thanks you all 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