Alfa Y Omega 1, 2 & 3 Group
Maribel has had her business for a year and a half. She started with her small savings and after a month of operation she found the group in her community and decided to take out a loan to increase her inventory. She plans to use this loan to invest in her business (a small store of cloths, shoes, cosmetics and other products) by buying more of those items.
She will use the profits to invest in her business, because she wants to have a bigger general store. This Esperanza associate began with us because she wants to invest in her business. Maribel, her family and group are located in San Pedro de Macoris, a city famous for baseball players and the sugar cane industry.
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.
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Success!! The loan was 100% repaid