El Gran Esfuerzo 3 Group
Johanny's micro business is clothing sales. Previous to taking out microloans, these entrepreneurs could not run their own sustainable bussinesses. The group members did not see much of a future in other employment activities, and agreed that working for themselves shows much more promise and profit.
In the future, Johanny mentions that she would like to grow her business, and improve her house with cement block installation. She would also like to have a place to set up her own clothing store.
Thank you for supporting these entrepreneurs!
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