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El Gran Esfuerzo 5 Group
In this Group: Rosa, Margarita, Digna, Fifa, Gregorio
Rosa is one of the members of El Gran Esfuerzo (The Big Effort) 5 group, which is located in the town of Hato Mayor. The town's economy depends on farming, and it is one of the most rural towns in the Dominican Republic. The group's main business activity is selling clothes, and most of the members who make up this group are Haitian immigrants.

Rosa has two children, and they live together with her father. She tells that her greatest challenge now is to have her own house. She loves going to church and to work. Rosa is very excited to be receiving her 13th loan from Esperanza International after having satisfactorily paid off her previous loans, and thereby given a step forward in the growth of her business. She has had her business for almost 12 years. She set up her business with a small amount of savings that she was keeping for business purposes. She started growing it with her first loan from Esperanza.

Rosa is planning to invest her new loan in buying clothes, especially for the coming Christmas season. She plans to use her profits to buy things she needs and start building her house.

Additional Information

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.

Tags

About Dominican Republic

  • $7,611
    Average annual income
  • 6
    View loans »
    Dominican Republic Loans Fundraising
  • $7,981,250
    Funds lent in using Kiva
  • 42.6
    Dominican Republic Pesos (DOP) = $1 USD

Success!! The loan was 100% repaid

A portion of El Gran Esfuerzo 5 Group's $3,625 loan helped a member to buy new clothes to sell, especially for the upcoming Christmas season.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 30, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014