La Confianza 1 & 2 Group
Luz is very excited about receiving her third loan from Esperanza International. She manages a sewing business where she makes clothes, school uniforms, and decorations. She will invest this loan to purchase fabrics and accessories used in making a few of the products that she sells. Her profits will be reinvested in her business and a portion saved because she wants to expand her sales and open a clothing store.
Luz lives with her husband in one of the poorest neighborhoods located in the north of Santo Domingo. She thanks all of you for supporting her group!!!
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