Mujeres De Union Y Paz Group
Rosa is the coordinator of the group, Mujeres de Union y Paz 1, 2 & 3 (Women of Union and Peace). She is mother of two children and they live together in a modest home. She is a single mother.
She has had her used clothing business for around eight years, starting with some capital she saved. She plans to use this loan to invest in her business, and she will buy two packages of these clothes. Before she started selling used clothes, she sold underwear.
She says that her most important challenge is when her clients don't pay her, because she used to sell on credit to be paid every 15 days. For now, she plans to continue to enjoy working.
Rosa is excited to be taking her ninth loan with Esperanza after having successfully repaid her previous loan and grown her business. She is planning to uses her business profits to build her house and business. She dreams of finishing her house.
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