Ana is the coordinator of her group Lo Confianza 1, 2 & 3 (Truth). Her group is located in the urban slums surrounding Santo Domingo and is composed of fifteen businesspeople. Ana lives in a simple structure with her husband and their three children. She says that her biggest challenges are overcoming the economic crisis, growing her business and supporting her family. This is her second loan with Kiva partner Esperanza.
Ana has had her business for more than five years. She bought a sewing machine with her own savings and started sewing clothes and curtains. Ana now produces quilts, blankets, and other items. She loves to sew; it is her favorite activity. Ana will uses this loan to buy fabrics and other accessories, which she will use to produce about twenty quilts. She will save some of her profits and reinvest the rest in her business.
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.