Fe Y Accion 1 Group
Margarita is a member of the group Fe y Accion 1 (Faith and Action). This group, like many others, runs its businesses by walking through the community and selling from home. Most of them are selling clothes, shoes and jewelry, while others run beauty salons, grocery stores, etc.
Margarita operates a Fantasia, a small business where she sells miscellaneous products. She has been in business for over five years, starting with some savings she had. While she says that her most important challenge is developing her business, she continues to enjoy it.
She is excited to be taking a group loan of 117,000 DOP, her seventh, with Esperanza after having successfully repaid her previous loans and grown her business. She plans to use her portion of this loan to invest in cosmetics, shoes, women accessories, underwear, clothes, etc. to sell. She will use the profits to reinvest in her business.
Margarita is very happy for your support, and she wants to thank you in her group’s name and her own!!!
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.
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Success!! The loan was 100% repaid