His story is representative of his group and of Esperanza's Haitian and Dominican clients (many of whom recently emigrated to the DR from Haiti) generally. His group is located in rural areas surrounding La Romana, where the sugarcane harvest and tourist industry dominate the economy. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable electricity and running water (none of which is potable).
Juan is the coordinator of his group Embajadores 1 & 2 ("Ambassadors"). He is excited to be taking out his third loan with Esperanza after having successfully repaid his previous loan and grown his business. This associate began with Esperanza because it is an interesting program offering more than just loans and low interest.
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
3View loans »
Success!! The loan was 100% repaid