Alida is one of the members of the group Maranata 2, which is made up of five dynamic women who are motivated to work to help their families and community succeed. This group is located in the city of Santo Domingo, a community with few resources located north of the capital of the Dominican Republic.
Alida is a married woman with four children. She runs a business selling hair, body and cosmetic products. She has been selling theses products for over 6 years, which has allowed her to start saving. She decided to start her business because her husband's income was not enough for her family's needs.
Alida is receiving her third loan. She is very excited to receive it, and she is ready to have a new source of capital for her businesses. Her plan for the future is to establish her business locally and to open a cosmetics store.
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.