Altagracia and her husband live in a very poor community called Mancorneta, which is on the outskirts of Hato Mayor in the Dominican Republic. Altagracia operates her own `fritura´, a small business that makes homemade snacks such as empanadas and minced meat. She is requesting a loan so that she can buy more flour, oil, pork and chicken so that she can meet the demands of her customers. After preparing the food in her house, she goes out into the community to sell. In the Dominican Republic, it is very common for people to buy a snack on the street corners as they walk to work, their homes, or simply when they are out and about. Altagracia has continued to grow since her first loan of $100. Her loan amounts and ability to repay have increased over the years and she is now on her 7th loan in the amount of $900. She hopes that her business will continue to grow and become more stable with the help of this loan. In her free time, Altagracia enjoys spending time with her 8 grandchildren. On behalf of everyone here at Esperanza International, and from Altagracia herself, we thank you for your support with this micro loan!
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.