Lorenza is the coordinator of her group, Mujeres unidas para un futuro mejor (women unite for a better future). She lives in a simple structure with her three children. She says that her most difficult challenge was to get capital to start a business and to build her house. In the meantime, she plans to continue enjoying attending church.
Lorenza is excited to be taking her first loan with Esperanza. She plans to use this loan to invest in her business, where she sells jewelry, by purchasing rings, bracelets, necklaces, and other women's accessories. She will start her business with this loan, and she is exciting to work and develop her business. She will use her business profits to reinvest in her business.
Lorenza lives in a zone of little resources in the city of Santiago, which is one of the most populated in the Dominican Republic. She is a very hard worker and an enthusiastic woman. Thanks for supporting this group of entrepreneurs!
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.