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La Nueva Luz (The New Light) Group 1
In this Group: Jose, Rosa, Melania, Gloria
Jose has a small house in El Seibo and another in the countryside where he raises and milks cows. He currently has 6 cows. Jose sells their milk to local cheese makers. He lives with one son, although he has three in total, ages 21, 24, and 26. Jose is the proud grandfather of a six-year old little boy. Jose has only had a high school education and he really wants his children to be able to continue with their studies and go to college so that they can have professional careers.


Business can be hard because there is no electricity out in the country yet and he has to travel on dirt roads to and from his farm to sell the milk. Jose has successfully repaid 5 loans and is now requesting his 6th. With the loan money, he plans to buy more grain to feed his cows and also to invest it in agriculture on his farm.


Note: This is a group loan for 5 people.

Additional Information

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

  • $7,611
    Average annual income
  • 8
    View loans »
    Dominican Republic Loans Fundraising
  • $7,988,425
    Funds lent in using Kiva
  • 34.3
    Dominican Republic Pesos (DOP) = $1 USD

Success!! The loan was 100% repaid

A portion of La Nueva Luz (The New Light) Group 1's $1,375 loan helped a member to buy more grain to feed his cows and to invest in agriculture on his farm.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Aug 19, 2008
Listed
Aug 1, 2008
Currency Exchange Loss:
Covered
Ended:
Mar 16, 2009