Bienestar En Dios (Well-Being In God) Groups Ii-3, I-4&5
In order to contribute to the family income, especially in the sugarcane off season, Yuly has a small business selling clothing. She buys the clothing in the capital of Santo Domingo, about 2 hours away from where she lives, and sells the clothing in the touristy beach city of Bavaro, another two hours of travel in the opposite direction. When she travels for work, her mother cares for her two children.
Yuly has successfully repaid 3 loans to Esperanza International and is now requesting her fourth. With the money she hopes to continue growing her business so that she can one day afford her own house and send her children to college so that they can have professional careers.
Note: This is a group loan for 13 people.
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