Dios Es Bueno 4 & 5 Group
Clarita is excited to be taking her second loan with Esperanza. She has had her business for one and a half years, starting out with some savings she had accumulated. She decided to began a loan with Esperanza International and the group because she was needing capital for her business. Before the loan she was looking for a way to find money and invest in her business, but she could not find it.
Clarita plans to use this loan to invest in her business by purchasing snacks, candies, cookies, etc. She is running a candy stall, in front of her house and she used to carry it to the local school and sell to the kids. She will use the profits to invest in her business. She would like to have an improved business and to travel to different countries.
Her group is located in the rural area surrounding La Romana, surrounded by sugar cane fields, where many Haitians have emigrated to work in the sugar cane industry. This group is composed of Haitians and Dominican members. This city economy is dominated by the sugarcane harvest and the tourist industry.
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