Dios Bendice 3, 4 & 5 Group
Margarita is very excited to receive her third loan from Esperanza Internacional, having satisfactorily repaid her previous loan and taken an important step in her business’ growth. She has had her business for about four years; she started it with some savings her husband had. He gave them to her to start up her business. She is running a candy shop stall, and she is planning on investing the new loan in buying snacks, juices, candies, gums, and many other products. She sells them by walking around and waiting for various schools to get out.
Margarita’s family is made up of herself, her long-term partner and their five children. She tells us that her greatest challenge is to have her own house. She really enjoys working and attending church. She will use her profits to invest in her business and to start building her house, little by little and with some help from her long-term partner.
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