El Batallon De Jehova 1, 3, 4 & 5 Group
Selling used clothes is a very popular business in the Dominican Republic and Haiti. Bundles holding hundreds of used garments are shipped from the United States and Europe. These are sold to major suppliers who then sell them to individual vendors. Sellers break open the bundles, then select the best quality items to sell at different prices.
Albania is one of these vendors. She is a married woman with three children who has sold used clothes for the past two years. This will be the second time Albania has participated in a group loan. She successfully repaid her previous obligations.
El Batallon de Jehova is applying for a 177,500 DOP loan from Esperanza International. Albania will use her portion of this loan to buy another bundle of used clothes. Her dream is to increase her sales and grow her business. She thanks all of you for your support!!
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