Genesis 4 Group
Phinette is excited to be taking her 11th loan with Esperanza after having successfully repaid her previous loan and developed her business. She has had her business for around 5 years, starting with the first loan she received from Esperanza. She plans to use this loan to invest in her business by purchasing pounds of meat, like beef, pork, and chicken. She will continue using her business profits to save and make her dream of going back to Haiti come true. She hopes to have enough money to have a better life there.
Her group is located in El Seybo, an agricultural and rural city. 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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