El Renacer 1, 2 & 3 Group
Mireya is excited to be taking her eighth loan with Esperanza, after having repaid her previous loans and grown her business. She plans to use this loan to invest in her business, which sells fruits, vegetables, meat and charcoal. She will use her loan to increase her inventory. She will use the profits to save to build her own house.
Mireya says that her most difficult challenge is to have Dominican permission to live in and to have her own house. Like other Haitian citizens, she is working to get her Dominican residence. This group is composed mostly of Haitian citizens from this batey close to Hato Mayor. Mireya started her enterprise after joining this group almost three years ago when she got her first loan. In the future, she dreams of having her own house. She thanks all of you 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.
About Dominican Republic
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Success!! The loan was 100% repaid