Fiordaliza is one of the members in the group called Fuente para el desarrollo 2 & 3 (source for the development). She lives in the beautiful town of Samana with her long term partner and their two children. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable running water (none of which is potable) and electricity.
Fiordaliza is receiving her 7th loan with Esperanza Internacional. She started having Esperanza loans and became a member of this group around 4 years ago when she was started doing some business to help her family's income. She is selling cosmetics from a popular brand and who sells their products through their catalog. Fiordaliza will use this loan to buy parfum, make up, body and hands lotion and wash, and also some other products you can find in the catalog that are in high demand so she can increase her inventory.
She intends to use her business profits to reinvest in her business and to buy different things they (herself and her family) need like clothing, shoes, and to improve her home. Thanks for supporting this group of entrepreneurs!
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.