C. S. is a 35-year-old woman who lives with her husband and three children (ages 9, 7, and 4) in a small Haitian community called Guayabal in the eastern province of Hato Mayor in the Dominican Republic. She began a small business selling clothing 2 years ago and is using the loan to increase her inventory. C. travels by bus from town to town selling her products to the small communities in the countryside as many of these rural people do not have the means to travel to town to do their shopping. She started this clothing business to earn additional income so that she can provide her family with a good education and comfortable home. In C.´s free time, she enjoys going to church, reading the Bible, and spending time with her children.
C. is the leader of the 15-person micro-bank group, La Bendición. In English, this means "the blessing." Each of these unique Dominican entrepreneurs unite in solidarity, allowing them to access funding that they would otherwise never be able to receive on their own. On behalf of C., the Bendición group, and the entire team here at Esperanza International, we thank you for your support with this $3275 micro loan!
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.