Las Responsables Group
Maribel is excited to be taking her fourth loan with Esperanza after having successfully repaid her previous loan and grown her business. She has had her business for seven years, starting with her own loan. She plans to use this loan to invest in her business by purchasing rice, beans, flour, sugar, canned food, and other goods. She is running a Colmado, a small grocery store. She will use the profits to reinvest in her business.
This group is located in one of the Bateyes from La Romana. All these members are mainly Haitians. Bateyes are rural area surrounded by sugarcane fields.
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