Amor Y Amistad 3 & 4 Group
Martire is excited to be taking his 12th loan with Esperanza after having successfully repaid his previous loan and developed his business. He has had his business for around 7 years, starting with the first loan he received from Esperanza, after some neighbors invited him to join the group. He plans to use this loan to invest in his business by purchasing pounds of fish and chicken and to buy coconuts to sell their water. He will continuing using his business profits to provide a better life for his family by building their house and having warm food, clothing and other needs.
Martire's story is representative of his group and of Esperanza's Haitian and Dominican (many of whom recently emigrated to the DR from Haiti) clients generally. His group is located in Samana, a lush rugged peninsula with a burgeoning 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