Dios Es Mi Pastor 1 & 2 Group
Mariana has been in business for three years, starting with some savings. She is excited to be taking her second loan with Esperanza after having successfully repaid her previous loan and grown her business. Mariana plans to use this loan to buy different products to sell like cosmetics, beauty products, clothing, shoes and other items. She will use the profits to invest in her business, which she wants to improve.
Mariana began her association with Esperanza because she needed to improve her business. Her story is generally representative of those in her group and of Esperanza's Haitian and Dominican clients, many of the former having recently emigrated to the Dominican Republic from Haiti. Her group is located in San Pedro de Macoris, a city famous for its baseball players and sugar cane industry. The area’s main economic activity is a free trade zone, a cement factory, and others. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable running water (none of which is potable) and 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