Lluvia De La Bendicion 1, 2 & 3 Group
Minerva is excited to be taking her second loan with Esperanza after having successfully repaid her previous loans and expanding her business. She has had her business for over 5 years, starting with her own saving loan with which she bought a stove and gas tank to fry food. She plans to use this loan to invest in her businesses to increase her inventory by purchasing goods like flour, meat, plantains, potatoes, etc. She will use the profits to reinvest in her businesses and to provide for her family. She wants to have her family together in a better house.
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