Mayra is the coordinator of her group Esperanza Para Vivir (Hope For Life) 1 & 2. The group is located in Santiago, the second biggest city in the Dominican Republic, and known for its tobacco and beef production. The group members are dedicated to selling clothes, food, shoes and jewelry.
Mayra is a single woman without children who lives in a simple house with her parent's family. Besides helping her parents financially, she is dedicated to working hard to save money and grow her business.
Mayra has been running her business around five years. She started taking loans with Esperanza International because she needed capital to increase her sales and inventory. She is excited to receive her eighth loan, from which she will invest to buy various products like cosmetics, clothes and shoes.
Mayra will reinvest her profits in her business, she is dreaming to have a general store and provide all her community's needs. She thanks all of you 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.