Grupo 1, 2 & 6 Group
Francisca’s business is a small butcher shop. She sells bacon, pork and salty beef. She will use this new loan to buy several pounds of this meat. She has been working in this business for about four and a half years. This is her 6th loan with Esperanza Internancional. She will use her business profits to help with the needs of her family and her house: she will be able to buy more and better food and save so that in the long-term they will be able to have their own house.
This group is located in an area with scant resources in the city of Santo Domingo. It is to the north of the city.
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