Solenny is one of the members of the Canal de Bendicion 3 & 4 group, a group in which the majority are Haitian immigrants who live in the city of La Romana, where the economy depends on the sugar industry and on luxury tourism. It is becoming one of the most exclusive destinations in the Dominican Republic. The businesses are selling clothes, shoes, cosmetics, food, etc.
Solenny is single and she is studying because she wants to become professional. She tells us that her biggest challenge is to be able to finish her studies. She lives with her parents. She really enjoys studying and selling. Solenny is very excited to receive her 8th loan from Esperanza International, after having satisfactorily repaid her previous loans and having taken steps towards growing her business. She has had her business for almost 5 years, when she began selling miscellaneous products. She is planning to invest her new loan in the purchase of women's new clothes.
She plans to use her earnings to reinvest in her business and to save to pay for, or buy anything she needs for her studies. She is dreaming of having a clothing store and to be able to get married.
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.