La Union Hace La Fuerza Group
This is the first loan that this community has applied for, and they are all very excited to improve and start their businesses. Many of the women in this bank are Haitian, and have come to the Dominican Republic in hopes of a better life and future. Esperanza hopes that every single one of these women will experience success and begin the process of lifting themselves out of poverty.
Oh behalf of this entire group, and Esperanza – thank you for your continued support and generosity!
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