Maria is the group coordinator for El Milagro (The Miracle) 2. Her story is representative of the others in her group and also more generally of Esperanza's Haitian and Dominican clients. Maria lives in Hato Mayor, a rural area in the Dominican Republic. Her home is compound for her long term partner and her two children.
Maria has successfully completed four and a half years of loans with Esperanza and this is her ninth loan. She sells shoes, clothes, and accessories from her home and by walking around her community and others. She would like to continue expanding her business by increasing her inventory to access more clients and sell more products. She will use this loan to buy many pairs of shoes, sandals, sneakers, and other types of shoes, as well as clothes and women accessories.
She said she enjoys doing business and her most important dream is to finish building her house, which she started by saving her profits after she started her business almost five years ago with her first Esperanza loan. She thanks you all 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.