Daisy is one of the members of the M.H 3 group. Group members are entrepreneurs dedicated to clothing sales, sales of natural products, shoe sales, food sales, sales of underwear, etc. in the city of Hato Mayor, one of the country’s most rural cities, where the economy depends on agriculture.
Daisy is the mother of four children. Her long-term partner and she have raised their children with many sacrifices and much effort. She started her business almost five years ago with her first loan from Esperanza. She is getting her ninth loan. Her previous loan was repaid satisfactorily, and she has made some good investments. She currently operates a business selling underwear.
Daisy is planning to invest the money from the new loan in underwear for children, women, and men. She will use her profits to finish building her house, which she has been building little by little. Her main challenge is to have her own home.
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.