Amor Y Paz 4 Group
Albaneli is excited to be taking her second loan with Esperanza after having successfully repaid her previous loan and increased her business. She plans to use this loan to invest in her business by buying shoes and electrical stuff like blenders, fans and small radios to sell by payments to her clients. She will use the profits to buy a refrigerator and school supplies for her children, and by saving she will invest in her business because she wants to improve it. She is dreaming to have enough money, health and love to share what she gets with her family and people around, and she knows with Esperanza and her group she will be able to accomplish her dreams. In the meantime she plans to continue enjoying her favorite things which are to eat and dance a lot.
Albaneli's story is representative of her group and of Esperanza's Haitian and Dominican clients generally, many of whom recently emigrated to the DR from Haiti. Her group is located in Santiago, an area famous for tobacco and beef production, the second biggest city in the Dominican Republic. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable running water (none of which is potable) and unreliable electricity.
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