Emprendedoras 1, 2 & 3 Group
Martha makes her home in a simple house with her husband and their two children. She plans to continue working most of the time. She became an Esperanza associate because she needed to start a business. She organized with some neighbors to form a group in her community to obtain loans to do business and make changes in their lives. She has had her business for more than five years, starting after her first Esperanza loan.
Martha is excited to be taking out her 8th loan with Esperanza, having successfully repaid her previous loans and expanded her business. She runs a small grocery store and plans to use this loan to invest in her business by buying goods including rice, beans, sugar, cooking oil, and canned food. She will use the profits to reinvest in her business and to save money.
The group pictures are separated to show as many faces as possible.
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