La Beneficiencia 2, 5 & 6 Group
Elimena operates a "colmado", a grocery store, where most of her neighbors buy their daily meals. She will use the loan to purchase many items like rice, sugar, cooking oil, canned meat, vegetables, flour, etc. to increase her business inventory. She is excited to receive her 12th loan with Esperanza International Dominican Republic since, with each loan, she has been able to make good investments in her business.
She represents women from Haiti who decided to start small businesses to supplement the insufficient incomes their households receive. She started her business when she received her first Esperanza International Dominican Republic loan, almost six years ago. This group is located in the city of San Pedro de Macoris, in one of the rural villages surrounding the main city. She enjoys attending church and working in her grocery store.
She thanks all of you for your support to her business and her group.
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