Lucrecia is the coordinator of her group Mujeres y Hombres emprendedores (Entrepreneur women and men 1, 2 & 3). Her group is located in Samana, a lush, rugged peninsula with a nascent tourism industry. She makes her home here in a simple structure with her husband, and they have 10 children. She says that her most difficult challenge was to raise her children and give them a good education. She enjoys serving other in her church and community.
This is Lucrecia's second loan with Esperanza after having successfully repaid her previous loan and growing her business. She has been running her business for around nine years, after she decided to run a small business from her house. She started selling groceries and now, she is running a 'colmado' (small food market). This loan will be used to buy flour, sugar, eggs, rice, beans and other goods. She will use the profit to reinvest in her business. She is very thankful 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.