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Mujeres De Nuevo Renacer 1 Group
In this Group: Balbina, Leonora, Ana, Alida, Georgina
Balbina is the coordinator of her group Mujeres de Nuevo Renacer 1 (Women of a new reborn). She makes her home here in a simple structure with her husband and two children. She says that her most difficult challenge is the plan she has to get a divorce. In the meantime, she plans to continue enjoying sharing with her entire family (parents and others) and cooking.

Balbina is excited to be taking her 6th loan with Esperanza after having successfully repaid her previous loan and grown her business. She has had her business for 5 years, starting with a loan she had. She plans to use this loan to invest in her business by buying different beauty and cosmetic products. She will use the profits to buy some medicine for her mother and save because she wants to have a bigger locale for her business. Her goal is to have a bigger salon and a clothing store.

This Esperanza associate began with us because she prefer Esperanza's payments and the unity it creates by having group loans, and 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 Puerto Plata, a port town on the north coast where the economy is based on tourism. This area, like nearly all impoverished areas of the Dominican Republic suffers from unreliable running water (none of which is potable) and electricity.

Additional Information

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

  • $9,700
    Average annual income
  • 11
    View loans »
    Dominican Republic Loans Fundraising
  • $8,228,650
    Funds lent in using Kiva
  • 37.3
    Dominican Republic Pesos (DOP) = $1 USD

Success!! The loan was 100% repaid

A portion of Mujeres De Nuevo Renacer 1 Group's $1,350 loan helped a member to buy beauty products and cosmetics.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 1, 2010
Listed
Nov 25, 2010
Currency Exchange Loss:
Possible
Ended:
May 15, 2011