Unidas Venceremos 4 Group
Jisela is excited to be taking her second loan with Esperanza after having successfully repaid her previous loan and grown her business. She has had her business for 8 months. She started it when she realized the need to have more income. She started selling underwear, which improved after her first loan. She plans to use this loan to invest in her business by buying different clothing. She will use the profits to expand her business by adding more products.
This Esperanza associate began with us because she really want to do business and she found in Esperanza the help to. Her story is representative of her group and of Esperanza's Haitian and Dominican (many of whom recently emigrated to the DR from Haiti) clients generally. Her group is located in San Pedro de Macoris, a city famous for baseball players and sugar cane industries. The main economic activities include a free trading zone and a cement factory. 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