La Fe 1, 2, & 3 Group
Armita is excited to be taking out her 8th loan with Esperanza after having successfully repaid her previous loans and grown her business. She has had her business for four years. She plans to use this loan to purchase blue jeans, cosmetics and women's shoes etc. She will use the profits to provide for her family needs.
This group is located in the rural areas surrounding La Romana, where the sugarcane harvest and tourist industry dominates the economy. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable running water (none of which is potable) and electricity.
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