Luchando Para Vivir Group
Wanda is excited to be taking her first loan with Esperanza. She plans to use this loan to invest in her business by buying silver jewelry to sell in her neighborhood and by visiting new clients (like secretaries, bank tellers) at their places of work. She will use the profits to build a water cistern in her house and her dream is to finish high school. In the meantime she plans to continue enjoying being with her family and operating her business.
This Esperanza associate’s story is representative of her group and of Esperanza's Haitian and Dominican clients generally, many of whom recently emigrated to the Dominican Republic from Haiti. Her group is located in Santiago, the second biggest city in the Dominican Republic, and an area famous for its tobacco and beef production. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable electricity and running water (none of which is potable).
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