Creciendo Para El Futuro 1, 2 & 3 Group
Having repaid her previous loan and grown her business, Adriana is excited to be taking her sixth loan with Esperanza. She has had her business for around four years, cooking foods and delivering them to people. She plans to use this loan to invest in her business by buying rice, beans, cooking oil, meat and chairs. She will use the additional profits to save and supply some needs for her only child and home. In the near future, she wants to build her house.
She said that her most difficult challenge is to build a safe and better built house. She enjoys being with her child and working at home.
This Esperanza associate began with us because the loans are for business and her story is representative of her group and of Esperanza's Haitian and Dominican (many of whom recently emigrated to the DR from Haiti) clients generally. Her group is located in Samana, a lush rugged peninsula with a nascent tourism industry. 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