Exito Con Cristo 1 & 2 Group
Maria makes her home in a simple structure with her two children and her long-term partner. After work she enjoys resting and working at home with her family.
Maria operates a Fantasia, which is a small store where clients can find products like cosmetics and other beauty products. She has been in business for almost five years, starting with her first Esperanza loan. She is excited to be taking her ninth loan with Esperanza after having successfully repaid her previous loans and grown her business.
Maria plans to use this loan of 82,500 DOP to buy jeans, shirts, cosmetics and other miscellaneous products for her store. She will use the profits to invest in her business, especially in this Christmas season when having a good inventory is great for business. Her plan is to expand her December sales.
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