Genesis 1 & 2 Group
Clara is excited to be taking her fourth loan with Esperanza after having successfully repaid her previous loans and grown her business. She has had her business for around 2 years. She was starting to use her savings to run her Comedor (small restaurant in the neighborhood, especially for lunch). After starting, she heard about Esperanza´s loans and decided to be part of the program. She plans to use this new loan to invest in her business by buying goods to prepare lunch, like rice, meat, cooking oil, vegetables and some cooking utensils. She will use the profits to reinvest in her business and she is dreaming of having her own restaurant in the town.
This group is compounded by 10 businesswomen dedicated to various business activities, from miscellaneous sales to food, beauty salons, shoe sales, fruits and vegetables, and others. They sell in their community and in nearby areas, located in the northeast of the city of Santo Domingo, where every day these micro-businesswomen look to improve their quality of life.
On behalf of her group, she thanks all of 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.
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Success!! The loan was 100% repaid