Jhoanna is one of the members of the group called De Cristo la Gloria 1, 2, 4 & 5. They are twenty micro-business women from San Pedro de Macoris, from a batey (a company town) surrounded by sugarcane fields where they live and work for their families. They are selling clothes, miscellaneous products, shoes, groceries, food, etc. Jhoanna lives in a simple home with her family which is comprised of four members: her three children and herself.
Jhoanna is associated with Esperanza and started with us because she needed capital to reinvest in a business. She is very excited to be receiving her 6th loan from Esperanza Internacional after having successfully paid off her previous loans, and having taken steps to grow her business. She has had her business for around five years.
Jhoanna is planning to invest her new loan in purchasing rice, beans, sugar, cooking oil, canned food, and other goods for daily meals. She will also buy shoes and other miscellaneous products because she runs different businesses. One is a grocery store and the other is selling shoes and other miscellaneous products. She said her most difficult challenge was to start her business. She thanks you all for your support!!!
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.