Renacer 1 & 2 Group
Primitiva is excited to be taking her second loan with Esperanza, after having successfully repaid her previous loan and grown her business. She has had her business for a month, starting with a loan she took two years ago. She plans to use this loan to invest in her business by buying rice, beans, sugar, cooking oil, canned food, and other goods. She will use the profits to reinvest in her business; one of her future plans is to have a supermarket and her house, and to invest in her business. She dreams of having a farm.
Her group is located in Santiago, an area famous for tobacco and beef production; it is the second biggest city in the Dominican Republic. Primitiva's business operates out of her house, like others in her group, who make their sales from home stalls and on foot. 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.
About Dominican Republic
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Success!! The loan was 100% repaid