Luz Divina 1,2,3 Group
Sonia’s group is located in Los Alcarrizos, a dusty, industrial town north of the capital where running water (none of which is potable) and electricity are unreliable. She makes her home there in a simple structure as a single mother with her child.
Sonia is excited to be taking her second loan with Esperanza after having successfully repaid her previous loan and grown her business. She plans to use this loan to invest in her business selling clothing. She will purchase tennis shoes, blouses, skirts and pants in the main market in Santo Domingo and bring them back to her community to sell.
Sonia will use the profits to invest in her home by purchasing an inverter that will store power when the electrical grid is working so that it can run basic utilities such as fans and light bulbs when the power is out. 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