Andrez is a member of the group Esperanza en Dios (Hope in God) 1, 2, & 3. The group is located in the rural area surrounding La Romana, where the sugarcane harvest and tourist industry dominate the economy. Andrez makes his home in a simple structure, where he lives with his three children. His most important challenge is to work hard to sell more products to provide for his family.
Andrez is excited to be taking out his fifth loan with Esperanza. He has repaid his previous loans and grown his business. He plans to use this loan to buy shoes, clothes, and cosmetics (body lotion, perfume, deodorant and other products) for his business. He will reinvest the profits in his business and take home money for food, clothes, and other needs. His future plans are to develop a successful business within his local area.
He 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.