Jesus Esta Aqui 1 & 2 Group
Isabel is excited to be taking her 5th loan with Esperanza after having successfully repaid her previous loan and grown her business. She has had her business for over 4 and a half years, starting with her first loan, with which she bought a stove and gas tank to fry food. She plans to use this loan to invest in her businesses, She sells fried food in her fried food stand and she wants to use this loan to buy big bags or packets of wallets and shoes. She will use the profits to buy school supplies, shoes, and give better food to her big family, She wants to buy a home and have all her family together in a better house.
This Esperanza associate began with us because she need a loan to start a business and the Esperanza program went to her community. Her 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 the urban slums surrounding Santo Domingo. 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.
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Success!! The loan was 100% repaid