Primera Esperanza 1 Group
For about ten years, Mayra has had a beauty salon which she started with the first loan she took with Esperanza International. She has improved her business with every loan she has taken with Esperanza. This is her sixteenth loan. She plans to use this loan to buy different hair and beauty product lines.
Mayra's story is generally representative of her group and of Esperanza's Haitian and Dominican clients, many of whom recently emigrated to the Dominican Republic from Haiti. 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.
About Dominican Republic
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Success!! The loan was 100% repaid