Amor Y Esperanza 3, 4 & 5 Group
Gislaine is excited to be taking her fifth loan with Esperanza after having successfully repaid her previous loan and grown her business. She has had her business for almost 5 years. She started by selling different products from a bag with some savings she had. She plans to use this loan to invest in her business by buying big packages of used clothing, also she is starting the sales of new clothing. She had expand her business into more products and clients. She will use the profits to save and reinvest in her business.
Her group is located in the urban slums surrounding Santo Domingo. and this group of 15 people is joined by Haitians citizen, who emigrated to the Dominican Republic for a better life.
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