Unidos Para Vencer 2 & 3 Group
Zoraida is excited to be taking her first loan with Esperanza. She started her business after she finished studying, and with the products she bought to learn on, she started her business, about a year ago. She had to stop and will start again with this loan. She will invest the loan to buy acrylic nails, brushes and enamels. She will use the profits to reinvest in her business, because she wants to improve it and recover the time she lost, when she stopped it. She is dreaming of having a successful beauty salon, and she will start buying the equipment, as soon as she can get more incoming funds. She says that her most important challenge is to raise her children and her favorite thing to do is the housework.
Her group is located in the urban slums surrounding Santo Domingo. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable electricity and running water. None of the water is potable.
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