Josefa is the coordinator of Cristo es la Esperanza 1, 2 & 3 (Christ is the Hope). She lives with her long-term partner and their four children in a simple structure, located in a rural community in La Romana. The community is a batey (company town) founded for sugarcane workers where she, her family, and the other 14 female micro-entrepreneurs in this group reside. Josefa has been taking out loans with Esperanza for about four years and she is excited to receive her eighth loan from Esperanza, as each previous loan helped her to improve her business.
Josefa says that her most important goals are to have her own house in the main city and to raise, educate, and support her children. She operates a fruit and vegetable stall, from which she sells goods her customers use to make their daily food. Normally she sells to her neighbors. She plans to use her portion of this loan to invest in her business by buying goods to resell, including vegetables, fruits, meats, and charcoal. With her profits, she will reinvest in her business and save for December sales. Josefa thanks all of you for your support of her business and her group.
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.