Yemeris is the coordinator of her group which is called Mujeres Hacia el Futuro 1, 2 & 3. She is a single mother with a child who lives with her in a simply structured home. This group is located in the rural village of San Pedro de Macoris, a city famous for baseball players and the sugarcane industry. The main economic activity here is the free-trade zone, a cement factory, and other businesses.
Yemeris has been selling silver and gold-filled jewelry for approximately one year with the first loan she took with Esperanza International. She plans to use this loan to buy more jewelry like rings, bracelets, necklaces and other jewelry. She will reinvest the profits in her business so she can expand her sales and supply more clients, and also so that she can provide for her child. This is her second loan with Esperanza International, and she is very excited about it. She has been investing all of her loans in her business. Yemeris thanks you all for your support of her group's dreams.
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.