Fe Y Accion 3 Group
Francisca operates a clothing sales business. She has been in business for over a year, starting with some savings she had. While she says that her most important challenge is developing her business, she continues to enjoy it. She is excited to be taking her first loan with Esperanza. She plans to use her loan to invest by buying different clothes for kids, men and women, different styles, specially for spring-summer (Easter is one of the warmer weeks in Dominican Republic), and Francisca will use this loan to supply clothes for this season. She will use the profits to reinvest in her business. Francisca is very happy for your support and she wants to thank you in her group’s name and her own!
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