Exito En Cristo 3 & 4 Group
Eugenia is excited to be taking her fifth loan with Esperanza, after having successfully repaid her previous loan and grown her business. She has had her business for almost two years, starting with her first Esperanza loan. She plans to use this loan to invest in her business by buying jeans, shirts, shoes, etc.
She enjoys doing business and reinvests most of her profits because she wants to have a big store in the future.She joined this Esperanza association because she needed to start a business to get enough income to pay her school expenses.
Eugenia’s group is located in San Pedro D. Macoris, a city famous for baseball players and sugar cane industries. The main economic activities are the free trading zone, a cement factory, and others.
Eugenia is very excited to receive this loan and start selling.
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