Angela is the coordinator of her group, Amor a Cristo 3 (Love to Christ). She lives in a simple structure with her husband and their two children. She says that her most difficult challenge is to repay this loan as she likes to repay well. In the meantime, she plans to continue enjoying working. Angela is dreaming of travelling to the United States and of having a successful business.
Angela is excited to be taking out her first loan with Esperanza. She is running a miscellaneous stall. She plans to use this loan to invest in her business by purchasing clothes, pairs of shoes, cosmetics, etc. She also will invest in her fruit and vegetable stall by buying pineapples, oranges, bananas, papayas and vegetables. She started her business 18 years ago; at that time she only had fruit and vegetables. She will use her business profits to reinvest in her business. This group is located in a zone of few resources in the city of Santiago, which is one of the most populated in the Dominican Republic. 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.