- Dominican RepublicFoodFunding via Esperanza International Dominican Republic, a partner of HOPE International
- Dominican RepublicClothingFunding via Esperanza International Dominican Republic, a partner of HOPE International
- Dominican RepublicRetailFunding via Esperanza International Dominican Republic, a partner of HOPE International
Los Claveles 1 & 2 Group
Inocencia is excited to be taking her first loan with Esperanza. She plans to use this loan to invest in her fruits and vegetables stall, by buying different fruits and vegetables. She will also buy charcoal and meat. She will use the profits to reinvest in her business, because she wants to have an improved business.
Her story is representative of her group and of Esperanza's Haitian and Dominican clients, many of whom recently emigrated to the DR from Haiti. Her group is located in the urban slums surrounding Santo Domingo. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable electricity and running water. None of the water is potable.
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