Mujeres Luchadoras 2 & 3 Group
Francia buys and sells new and used clothing, this has been her business for over 3 and a half years, which she started with some money she received from previous employment. She is excited to be taking out her third loan with Esperanza after having successfully repaid her prior loan and grown her business.
She plans to use this loan to invest further in her business. She will use the profits to increase her sales and to make her business grow, while she is saving to make one of her dreams come true (to become a lawyer), and others like to have a store and to guide her children into professional lives.
Her group is part of a biggest group formed in her rural community for them to do business and take big changes into her neighborhood, located in San Pedro de Macoris, a city famous for its baseball players and sugar cane industry.
The town’s main economic activity revolves around a free trade zone, a cement factory, and other businesses. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable running water (none of which is potable) and electricity.
Pictures were taken during the disbursal process in a meeting in one of the associate's home. That why we decided to take the photos while they were sitting.
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