Nueva Esperanza Group
Teodora D. L. S. is the representative of this group, and is a hardworking mother of four children. She has a very small business selling clothing in her neighborhood. She takes a bus each month to a city called Santiago which is a few hours away, and there she buys all her used clothing for her business. Santiago has the cheapest clothing but it is far away and difficult for her to make the trip. She has been profitable with her first couple loans and is finally at the point where she can save a little money for the future. She is hoping to take this next loan and increase her inventory and hopefully increase her income. She is saving to try and send her children to a university one day and knows that education is something that might help her children break out of this poverty. She is so happy with the way her business is going and hopes to keep on increasing in size. For once she feels like a provider and a person with purpose! She is going to continue working hard to reach her dreams!
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.
About Dominican Republic
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Success!! The loan was 100% repaid