Fuente Para El Desarrollo 1 Group
Modesta is very excited to be receiving her 12th loan in Esperanza International. She has sucessfully paid off her previous loans and taken steps to grow her business. She started her business 6 years ago with a loan from Esperanza International. Modesta will invest her new loan in purchasing rice, cooking oil, beans, meat, seasoning, disposable containers, and other goods to prepare meals for lunch. She has a little restaurant, named Comedor in the Dominican Republic. She will use her earnings to re-invest in the business, while she saves to rebuild her house. Her biggest dream is to have a large restaurant.
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