Monte De Bendicion 1 Group
Francisca sells used clothes that she buys by the bag. Each bag or packet has around one hundred pieces of good quality second-hand clothes. For Dominicans and Haitians, it is very popular to buy clothes like this. Most of them are good quality and have cheap prices. She sells them from her house and from a flea market. Francisca will use this loan to buy three bags, and with her business profits, she will reinvest in her business by buying more clothing of higher quality, which costs more and requires more capital.
Francisca lives with her husband and their four children. She dreams of having a successful business. She enjoys working at her home and doing business. She thanks you all 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.
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Success!! The loan was 100% repaid