Faroles De Esperanza 6 Group
Martina makes her home here in a simple structure with her long-term partner and one child. She plans to use this loan to invest in her business of selling miscellaneous products, specially clothes and rice. The clothes she sells by walking around. For the rice, she has a group of clients who pay her every week one tenth the price of a sack of rice, and every week she gives one sack of rice to her clients, in the order on her list. She will use this loan to buy jean, skirts, shirts, etc. and two sacks of rice. She will use the profit to reinvest in her business.
Martina is excited to be taking her first loan with Esperanza after having successfully repaid a previous loan and grown her business. She thanks you all 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.
About Dominican Republic
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Success!! The loan was 100% repaid