Santa S. is a group coordinator for the Paz y Amor Bank of Hope. Of this 3-group bank, 2 groups of 5 are participating in this loan. All the group members live in Samana, Dominican Republic. Santa's business consists in selling beauty products and personal care products. Mostly, she sells the products at her home to people in her own neighborhood. She has 4 young children.
Santa's favorite activity is to read and she also loves to eat vegetables. All of the loan she receives will be used to replenish her business merchandise. Santa hopes in the future to expand her business to a point where she has her own beauty supply.
On behalf of Esperanza, 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.