Luz Del Alba is an active and hard-working entrepreneur, and she is the coordinator of a group of five women who own and operate businesses in the Yacot community of Santo Domingo.
Luz has been selling cookware to the women of her community for more than two years. This activity is the principal means of providing food and a good education for her children. Luz will use her loan to buy more products to sell to her clientèle and to attract more people.
The members of Luz’s group are:
Clemencia P., Macila P. and Mathurin Z., all of whom will invest their funds to buy men’s clothing for a small business, and
Suanny J., who will purchase cloth for a small business.
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.