Amor Y Amistad 1 & 2 Group
Martires has had his business for almost ten years, starting with the first loan he received from Esperanza, after some neighbors invited him to join the group.
He plans to use this loan to invest in his business by purchasing pounds of fish and chicken to sell fried with sweet potatoes and fried plantain, as well as coconuts in order to sell their water. He will continue using his business profits to provide a better life for his family by finishing building their house and by providing warm food, clothing, and for other needs.
Martires’ group is located in Samana, a lush rugged peninsula with a burgeoning tourism industry, where most of the group members sell their products in their communities and surrounding areas.
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.
About Dominican Republic
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Success!! The loan was 100% repaid