El Futuro 6 & 7 Group
Mari is very excited about receiving her third loan from Esperanza Internacional having paid her previous loans and invested her loans and profits in her business. Mari started her business 15 years ago, with a help she received from her mother, now she has a little grocery store called in Dominican Republic “colmado” which is a small grocery store where her neighbors come by to purchase basic need items for their families daily meals. She will use the loan to buy rice, beans, cooking oil, and other goods.
Her most difficult challenge is to have her own house, this is also her most important dream, when she has her own house, she will be very happy and proud of her work.
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