Con Cristo Se Puede 1 & 3 Group
Yeta has been operating her Comedor (a kind of local restaurant for lunch) for around 2 years. Many people from the community have lunch there. She started with her own savings. She is excited to receive her third loan through Esperanza. She joined the program just 3 months after she started her business and she said this helped her get a good start. She plans to use this loan to buy items such as rice, meat, seasoning, canned meals, vegetables, flour and cooking oil.
She will use her profits to save as much as possible because she would like to have her own house, either by buying it or building it. Her story is generally representative of her group and of Esperanza's Haitian and Dominican clients, many of whom recently emigrated to the Dominican Republic 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.
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Success!! The loan was 100% repaid