Hilda plans to use this loan to invest in her business selling underwear by purchasing brassieres, panties and pantyhose to sell. She is the coordinator of her group Fe en Dios ("Faith in God") and her story is representative of her group and of Esperanza's Haitian and Dominican clients (many of whom recently emigrated to the DR from Haiti) generally. Her group is located in Samana, a lush rugged peninsula with a nascent tourism industry, where running water (none of which is potable) and electricity are unreliable. She makes her home here in a simple structure as a single mother with her one child.
Hilda is excited to be taking her first loan with Esperanza and having the opportunity to access capital at low interest rates. She will use the profits to purchase food and school supplies as well as a computer for her child. 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.