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Fe Y Accion 1 Group
In this Group: Carmen, Balenci, Yaquelin, Yomaris, Dharians
Carmen is the coordinator of her group Fe y Accion (Faith and Action), and her story is representative of her group and of Esperanza's Haitian and Dominican (many of whom recently emigrated to the DR from Haiti) clients generally. Her group is located in the rural areas surrounding Hato Mayor, an agricultural area where running water (none of which is potable) and electricity are unreliable. She makes her home here in a simple structure with her long term partner and their two children.

Carmen is excited to be taking her first loan with Esperanza and she has come to Esperanza because she believes the payment terms are generous and will help her business grow. She plans to use this loan to invest in her business running a beauty salon by purchasing a barber's chair. She will use the profits to invest in her dream of adding a cosmetic line to her salon as well as saving for the university education of her children. She thanks you all for your support.

Additional Information

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

  • $7,611
    Average annual income
  • 3
    View loans »
    Dominican Republic Loans Fundraising
  • $7,840,950
    Funds lent in using Kiva
  • 36.7
    Dominican Republic Pesos (DOP) = $1 USD

Success!! The loan was 100% repaid

A portion of Fe Y Accion 1 Group's $850 loan helped a member to purchase a barber's chair.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Jun 1, 2010
Listed
May 24, 2010
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2010