Mujeres Poderosa 1 & 2 Group
Ana plans to use this loan to invest in her jewelry business, by buying rings, bracelets, chains and other accessories. She will also buy clothes. She will use the profits to invest in her business and she dreams of improving it and being able to build her house and buy some furniture. She has had five loans and she is excited to have this new loan and give one step forward to her business improvement.
Ana's story is representative of her group and of Esperanza's Haitian and Dominican clients generally, many of whom recently emigrated to the DR from Haiti. Her group is located in Puerto Plata, a port town on the north coast where the economy is based on tourism. 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