Elene is the coordinator of her group, Amor y Esperanza (love and hope) 1, 2, 3 & 4. This group is located in the urban slums surrounding Santo Domingo. She makes her home here in a simple structure with her three children. She is a widow mother. She says that her dream is to have her own house, and thanks to the loan and her savings, she had made it possible to start building it.
Elene is excited to be taking her 8th loan with Esperanza after having successfully repaid her previous loans and grown her business. She has had her business for almost 16 years, starting to sell products before she moved to the Dominican Republic. Elene plans to use this loan to invest in her business by buying different products like clothing, shoes, and cosmetics. She will also use future profits to reinvest in her business and to finish building her house. 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.