La Nueva Esperanza 2 & 3 Group
Emilio is planning to use his loan to buy clothing, cosmetics, and shoes. He will save his profits to continue building his house. Emilio enjoys listening to music, and his goal is to faithfully repay his loans to continue investing in his business. His dream is to improve his social condition and to buy a large vehicle, like a truck or a pick-up truck.
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