El Renacer 2,3 &4 Group
Mireya is excited to be taking her fourth loan with Kiva partner, Esperanza, after having successfully repaid her previous loan and grown her business. She plans to use this loan to invest in her business. She sells ice cream, domestic ice, grocery items and underwear, all from her house and in the local school. She will use her loan to purchase some of each of these products. She will use the profits to re-invest in her business. Mireya says that her most difficult challenge is to have Dominican permission to live and work in the Dominican Republic. Like other Haitian citizens, she is working to get her Dominican residence. She started doing her business after she joined this group almost two years ago when she got her first loan. In the future she is dreaming of having her own house. She thanks you all for your support.
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