La Nueva Esperanza 1 & 4 Group
Flor is the mother of two children. Together with her husband, she has been able to provide necessities for her family. She works selling clothing. Four years after receiving her first loan, she is receiving her eleventh loan. Flor has successfully invested and repaid her previous loans.
Flor is planning to use her new loan to purchase new clothes for men, women, and children. The most difficult part of her work is collecting money from people who have bought products on credit. Flor will save her earnings to continue providing necessities for her home and finish building her house. Flor's favorite activity is studying. Her dream is to graduate as a computer engineer while pursuing her business and to be able to pay for her college education.
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