Paz Y Amor Group
D. Jean Jacques is part of a five-person micro-bank, Paz y Amor, which means "Peace and Love." The group is composed of all Haitian immigrants living in the same community of Loma Bajito. Each woman has her own personal business, but they unite to pay their loan as a group. The purpose of the group loan is to assist each other in case someone defaults. Loans are divided among the group to pay back.
We thank you for your support on behalf of D., the Paz and Amor group, and the entire team at Esperanza International.
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.
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Success!! The loan was 100% repaid