Desarrollo Comunitario 5 Group
Alberto’s group is located in the Samana peninsula, a lush, rugged area with a nascent tourism industry, where running water (none of which is potable) and electricity are unreliable. He makes his home there in a simple structure with his long-term partner.
Alberto is excited to be taking his eighth loan with Esperanza after having successfully repaid his previous loan and grown his business. He plans to use this loan to invest in his business selling coconuts by purchasing more coconuts to sell.
Alberto will use the profits to invest in his home by replacing the wooden walls with block and in his long term ambition of having a truck to haul his coconuts with. He 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.
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Success!! The loan was 100% repaid