Nueva Gloria Group
America runs a small business of selling cosmetics. She dedicates herself to selling hand and face creams, make-up, body lotion, and many other cosmetics. A friend told her about a very famous franchise for cosmetics and natural products, and she decided to sell those products. America is really excited to develop this business, which she will start with her first Esperanza loan. She wishes to repay her loan well and to continue receiving more loans. She is excited to receive her first loan with Esperanza. She wants to use her business profits to increase her inventory.
America has 4 children. Three of them live together in her simple house with their father. Her dreams are to have an improved and successful business, and also to build a house for her children. Her favorite things to do are to read and sew.
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