Mujeres En Esperanza 3, 6 & 7 Group
Teresa prepares food to be fried and sold to her clients. She cooks fried foods like Empanada (dough made of flour filled with meat and vegetables) and many other meals like fried plantain, chicken, beef, etc. She is currently receiving her second loan. She is very grateful for the loans because she has been able to advance and invest in her business, which she started around 5 years ago. She will use her new loan to buy cooking oil, sugar, flour, fruit, plantain, chicken and disposable plates.
This group, Mujeres en Esperanza 3, 6 & 7 Group, is comprised of 15 members. Each one of them works day-to-day in their business activities in Santo Domingo. It is one of the communities with scant resources located to the north of the city.
Teresa and her group are thankful 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