La Fe 2, 5 & 6 Group
Marie is excited to be taking out her sixth loan with Esperanza after having successfully repaid her previous loans and grown her business. She has had her business for three years. She plans to use this loan to purchase some clothing like blue jeans, shirts, some women's shoes, and cosmetics products. She will use the profits to reinvest in the business, because she wants to increase her sales, and she will have the opportunity to have good sales for all the Christmas season and to sells toys in January (In Dominican Republic, the kids receive toys in January).
This group is compounded by Haitian citizen who have been living in the Dominican Republic for years and working in the sugarcane fields from La Romana, where the sugarcane harvest and tourist industry dominates the economy. 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.
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Success!! The loan was 100% repaid