Lesbia is the coordinator of the Mujeres Al Poder 4 (women in power) Group. The members live in the slums located to the north of Santo Domingo. This group is located in one of the poorest communities to the north of Santo Domingo. Lesbia sells silver jewelry. This is the first loan she has requested from Esperanza, and she is planning to purchase rings, necklaces, bracelets, earrings and other accessories. She is very excited about this loan which makes it possible to reinvest in her business and expand her sales into more products and clients.
Lesbia tells us that her challenges have been to start her business and to study. For her business, she saved a small amount of money and bought some accessories almost a year ago. She is the mother of a child and they live together with her long-term partner. Her business profits will be used to reinvest in her business. 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.