El Firmamento 1, 2 Group
Merki makes her home here in a simple structure with her long-term partner and their two children. She is a young mother of 26. She is excited to be seeking her third loan with Esperanza. She successfully paid off her previous loan after using it to make a successful investment in her beans sales. She boils them to sell to her neighbors. (This is a way many women in the Dominican Republic buy beans for daily meals, specially for lunch. They finish cooking the beans.) She plans to use this loan to invest in her business by buying three bags of beans.
She is saving her profits because she is planning to expand her business with more products. She dreams of having a grocery store. Her most difficult challenge has been studying and take care of her babies. She likes to work and her future plan is to have her own house. She thanks all of you for your support.
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