Union Y Amor 3 Group
Yolanda and her husband live with their two children in a simple home in El Seybo, a rural town in the agricultural east of the Dominican Republic. Life in rural areas of the Dominican Republic can be rough, with no potable running water, frequent power outages (if one has power to begin with), and inadequate access to healthcare, among other dangers. Despite these difficulties, Yolanda runs a successful business selling gas and motor oil to her community. Since there are no gas stations in the countryside, she can charge a small markup and make a healthy profit.
This is Yolanda’s ninth loan with Esperanza International. With her access to capital, she hopes to continue improving her business. This loan is five times as large as Yolanda’s first loan, a true testament to her hard work and the growth of her business. With profits, Yolanda is hoping to soon add a bathroom to her home. Construction in the Dominican Republic is done in stages as money becomes available. Having a bathroom will add more comfort and provide better sanitation for Yolanda’s family.
Esperanza International seeks to free children and their families from poverty 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 Yolanda and the Union 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.
About Dominican Republic
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Success!! The loan was 100% repaid