Carmen is the coordinator of the group Hoyo del Toro, named in honor of their community. This is a small community on the road to San Pedro de Macoris and this group has 15 businesswomen. Carmen is a young mother of three children.
Carmen sells clothes, especially second-hand clothes, in a flea market close to her community. When the Esperanza program went to her community, she decided to have a loan for her business. Now, after amost 11 loans, she has been able to establish her business and to provide for her family. She will invest this loan to buy a bag of used clothes and she will also purchase new clothes.
Carmen said that her biggest challenge is to raise her children in a better environment; she wants to give them a safer life, and with as few needs as possible; she is working to provide school, food, clothes and other needs. She enjoys learning and taking care of her children. She dreams of seeing her children attend the university, graduate and become professionals. Thank you!
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.