Shalom 5 & 6 Group
Maria is running a business selling clothing. She is the mother of three children, but only one lives with her and her long term partner. She tells us that her most difficult challenge is to have her own house, built in a concrete block structure. Her most favorite activity is working and doing business. This is her 9th loan, after having repaid her previous loans satisfactorily. She has had her business for around six years, starting with the first loan she received from us.
Maria will use this loan to purchase jeans, shirts, underwear and women's clothes such as blouses, skirts, underwear and other items. She is planning to use her business profits to save because she wants to start building her house. 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