Trabajando Hacia El Bienestar 1, 2 & 3 Group
Anselma is excited to be taking her second loan with Kiva partner, Esperanza, after having successfully repaid her previous loan and grown her business. She has had her business for a year and a half, and she started it by making breakfasts with a loan she took from another company. She plans to use her new loan to invest in her business by buying chairs and tables for her comedor, where she sells breakfast, lunch and dinner. (A comedor is a small restaurant located in a non-commercial area or neighborhood, where people come for lunch or dinner. They are served homemaD. food for a cheaper price than in a restaurant or cafeteria.) Anselma will use her profits to buy a bed and a television. She plans to have a good, successful business because she wants to see her wishes come true and her business is her only hope.
This Esperanza associate began with us because "I have a business and I need to make my business sustainable". Her 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 Samana, a lush, rugged peninsuL. with a nascent tourism industry. 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