Luz Y Progreso Group
She is receiving her 6th loan from Esperanza International. Thanks to her prompt repayments, she has been able to strengthen her business and make good investments. Her plans for this new loan are to invest in the purchase of food & musical equipment. The earnings will be reinvested in more goods and savings. Mirlanda is grateful for the support.
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