La Reforma 1 & 2 Group
For around seven years Alexandra has operated a colmado, a shop where you can find basic food staples. Colmados are within short walking distances from neighborhood homes. She started her business with a loan she receive from a friend. She plans to use this loan to buy rice, flour and other foods. She will use the profits to reinvest in her business, like her other eight loans. She wants to work. She says, "now I have the strength to work harder. For my future, I want to have a better life, to live tranquil and safe.
Alexandra says that her biggest goal is to have her own house. In the meantime, she plans to continue enjoying to survive and to serve with her business. Her story is generally representative of her group and of Esperanza's Haitian and Dominican clients, many of whom recently emigrated to the Dominican Republic 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.
About Dominican Republic
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Success!! The loan was 100% repaid