Hacia Adelante Groups 3 And 4
Milandina is a group leader in her Bank of Hope, Hacia Adelante (“onward”), and her loan officer Ramona often uses her story as an inspiration for new associates. Of all her successes, Milandina seems most proud of the fact that her family can now always count on her—proof that Esperanza fosters solidarity and responsibility as well as entrepreneurship.
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
0View loans »
Success!! The loan was 100% repaid