El Corazon 1, 2 & 3 Group
Maria started her business with a loan she had from a commercial bank, and this loan allowed her to have her business. She came to Esperanza to reinvest in her business. With this loan she will invest in her business to increase her inventory by buying hair extensions and beauty products to resell and use with her clients. Her future plans are to have a successful Salon or Spa and provide her children a great education and all they need.
Maria joined Esperanza almost three years ago and this is her sixth loan. All previous loans have been repaid and invested in her business. 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.
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About Dominican Republic
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Success!! The loan was 100% repaid