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Villa Ascencion Group
In this Group: Marie, Anita, Simona, Maria, Eluvin, Enniette, Olguitte, Emilia, Louisita, Andrea
Maria J. B. understands what it is like to struggle to survive. Each day of her life has been hand to mouth as she tries to provide for her 10 children. An immigrant from Haiti, Maria and her husband, Wilson, live in Puerto Plata, Dominican Republic. Maria sells sweets made out of cocoa, peanuts, and sugar to provide for the seven children that are currently living in her house. (The others are still in Haiti). She dreams of owning her own home one day but is primarily concerned with supporting her children for the time being.


Maria J. B. is just one member of the 10-person micro-bank, Villa Ascencion, which means “Ascended Town”. Each of these unique Dominican entrepreneurs unite in solidarity, allowing them to access funding that they would otherwise never be able to receive on their own. The concept of this group bank paying their loan together is to reduce the risk of one person defaulting, as the other members gladly help cover one another’s payments in order to receive their next loan together. Some of the other women in this particular bank make a living selling clothing or running small salons, and one owns a small colmado, or store that sells basic groceries and snacks.


On behalf of Maria, the Villa Ascension, and the entire team here at Esperanza International, we thank you for your support and awareness of the global issue of poverty, in which your efforts are helping to make a difference.

Additional Information

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

  • $7,611
    Average annual income
  • 2
    View loans »
    Dominican Republic Loans Fundraising
  • $7,912,075
    Funds lent in using Kiva
  • 34.0
    Dominican Republic Pesos (DOP) = $1 USD

Success!! The loan was 100% repaid

A portion of Villa Ascencion Group's $1,775 loan helped a member to purchase sugar, peanuts, and cocoa, as well as clothing, shoes, and inventory for a small store.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Jul 17, 2008
Listed
Jul 1, 2008
Currency Exchange Loss:
Covered
Ended:
Feb 15, 2009