Bendiciones De Dios 1, 2, 3 Group
Sylvenia is excited to be taking out her seventh loan with Esperanza after having repaid her previous loan and grown her business. She has had her business for more than nine years, starting with her own resources when she was living in Haiti. She plans to use this loan to invest in her business by buying bed cloths, curtains, clothing, etc. Sylvenia will re-invest the profits in her business. She dreams of building her own house.
This Esperanza associate began with us because her business needed capital to grow, and 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.
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