Josefa is the coordinator of Cristo es la Esperanza 1, 2 & 3 (Christ is the Hope 1, 2 & 3). She lives with her long-term partner and their four children in a simple structure, located in a rural community in La Romana. Specifically, the community is a batey (company town) founded for sugar cane workers where she, her family, and the other 14 micro-entrepreneur women in this group reside.
Josefa says that her most important challenges are to have her own house in the main city, and to raise, educate and support her children. She operates a fruits and vegetables stall, a place where she sells goods to make the daily food. Normally she sells to her neighbors. She plans to use this loan to invest in her business by buying goods to resell, including vegetables, fruits, meats, and charcoal.
Josefa is excited to receive her fifth loan with Esperanza, each previous one having helped her to improve her business. With her profits, she will reinvest in her business and save. Josefa thanks all of you for your support of 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.