Paz Y Amor Group
Alcy E. is 40 years old. She is married; her husband is 38. They have two girls, 17 and 19 years old. E. works as a street vendor, selling clothes, shoes, and also food. She works in the district of Sosua. She previously received a loan from Esperanza. This will be her second loan. The first loan made it possible for her to expand her business and increase her monthly sales. With her new loan she hopes to increase her sales even further. Alcy E. hopes that one day will be able to buy a nice house for her family. She is also concerned about the future of her children. Her oldest child has completed a year of medical school, and Alcy E. hopes to see her daughter become a doctor.
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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Success!! The loan was 100% repaid