Elsa is one of the members of the group called Cristo Redentor 1, 3 & 4. The group consists of 15 micro-business women from San Pedro de Macoris, from a batey (a company town) surrounded by sugarcane fields where they live and work for their families. They are selling clothes, miscellaneous products, shoes, groceries, food, etc. Elsa lives in a simple home with her family of five, including her children and her long-term partner.
Elsa started with Esperanza Internacional because she needed capital to start a business. She is very excited to be receiving her 13th loan from Esperanza after having successfully paid off her previous loans, and having taken steps to grow her business. She has had her business for around seven years.
Elsa is planning to invest her new loan in purchasing rice, beans, sugar, cooking oil, canned food, and others goods for daily meals. She is running a small food store, called a colmado, where neighbors can buy their goods in their own neighborhood. She said her most difficult challenge has been to start her business. She thanks you all for your support!!!
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.