Hacia Adelante 4, 5 & 6 Group
Fredesvinda makes her home in a simple structure with her husband and their three children. They are living together and they are looking to progress together by working and bringing income to the home.
Fredesvinda operates a business where she sells clothing. She is excited to be taking her 9th loan with Esperanza. She has had her business for six years. She plans to use this loan to invest in her business by buying other products like shoes, underwear and more clothes. She will save part of her profits and invest the rest in her business. Through this business she wants to make her dreams come true, especially to have her own house.
This Esperanza associate began with us because she wants to improve her family life by starting doing business. Her 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.
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