Las Asusenas Group
He has owned a small colmado for some time, but is requesting this loan to improve, expand and grow his little business. A colmado, a very common type of business in the Dominican Republic, is essentially a small grocery store that offers community members basic food provisions (rice, beans, vegetables), as well as soaps, beverages, and miscellaneous household items. With the loan, he plans to expand his range of inventory and thereby attract new clients.
He dreams of one day having his own large grocery store, not just a neighborhood colmado, and believes that by continuing to work hard, saving, and being responsible, it is a real possibility. He insists that his children continue studying so that they can be productive members of society, and hopes that he himself will always progress in both his personal and economic life.
On behalf of everyone here at Esperanza International, and from Antonio himself, we thank you for your support with this micro loan!
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