Trabajando Hacia El Bienestar 1 Group
Rosa is excited to be taking her ninth loan with Esperanza and she said she feels stable having Esperanza´s loans. She plans to use this one to invest in her jewels sales. This associate began with Esperanza because she needed capital to develop her business and increase her household income.
Her group is located in Samana, a lush, rugged peninsula with a nascent tourism industry. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable electricity and running water (none of which is portable). Rosa 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.
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About Dominican Republic
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This loan has been fully funded!