Ambrocia leads this loan group, which is called Arco Iris (Rainbow) 1, 2 & 3. The members live in the slums located to the north of Santo Domingo. She makes her home in a simple structure with her two children and her long-term partner. She is excited to be taking out her first loan with Esperanza. She plans to use this loan to invest in her business, which is selling shoes, clothing, and cosmetics. She will use the profits to expand her business and improve her family's life. Her most difficult challenge has been providing her children with various items they need. She enjoys her work and is known for having a clean, well-organized home. Like everyone in this group, she is committed to improve her family's life and she thanks 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.