Mujeres Con Esperanza 3 Group
Ruth lives with her husband in a simple home in Santiago, the second-largest city of the Dominican Republic. Life in urban areas of the Dominican Republic is overcrowded and can be rough, with no potable running water, daily power outages and inadequate access to health care. Despite these difficulties, Ruth runs a successful small business repairing washing machines. With this loan, she will purchase new machine parts and tools to advance her business.
This is Ruth’s third loan with Esperanza International. She hopes to continue growing her business. With her profits, Ruth hopes to expand her home. Construction is done in stages as money becomes available. Ruth should have enough money soon for the new addition. She is excited to continue taking out bigger loans to improve her business and home life.
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 Ruth and the Mujeres con Esperanza 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.
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Success!! The loan was 100% repaid