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La Fe 1, 3 & 4 Group
In this Group: Renold, Martha, Jeannette, Lamercy, Oyana, Charguita, Aniesa, Calina, Sonia*, Jisselene, Rosiana*, Osni, Alud, Dioselina, Solan
* not pictured
Renold is the coordinator of his group La Fe ("Faith") 1, 3 and 4. This group is located in a batey (a sugarcane company town) in the rural area surrounding La Romana, where the sugarcane harvest and tourist industry dominate the economy and most of the people are Haitian immigrants. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable electricity and running water (none of which is potable).

He is excited to be taking out his third loan with Esperanza after having successfully repaid his previous loan and grown his business. Renold plans to use this loan to invest in his business by buying rice, beans, sugar, canned food, vegetables, etc., He is running a colmado, a small grocery store.

Renold makes his home in a simple structure with his long-term partner and three children. He has had his business for almost three years, starting with a small amount of savings.

He says that his most difficult challenge is to buy a pick up to transport his merchandise. In the meantime he plans to continue to enjoy doing business. He will use his profits to invest in his business. His future plan is to have a house for his children.

Additional Information

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

  • $9,700
    Average annual income
  • 3
    View loans »
    Dominican Republic Loans Fundraising
  • $8,158,875
    Funds lent in using Kiva
  • 38.3
    Dominican Republic Pesos (DOP) = $1 USD

Success!! The loan was 100% repaid

A portion of La Fe 1, 3 & 4 Group's $4,675 loan helped a member to buy rice, beans, sugar, canned food, vegetables, etc.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2011
Listed
Dec 22, 2011
Currency Exchange Loss:
Possible
Ended:
Jun 16, 2012