Check out some available loans that are similar to this one!
Esfuerzate Y Sed Valiente 3 Group
In this Group: Margalena , Ana, Cecilia, Enide, Vesta
Margalena G. is the bank coordinator for "Esfuerzate y Sed Valiente" (Group 3). The bank operates in San Marcos, a neighborhood a little bit outside of the city of Puerto Plata. Her group is the newest addition to this community bank, bringing their total number to 15 members. These entrepreneurs will undertake a variety of businesses, mostly involving clothing and food sales.



Margalena is 43 years old and is married to a man her own age. They have three grown children and three grandchildren. Margalena is a very active woman and has not delayed in putting time into her business. Most people probably see their business as a mean to achieve something, but Margalena also sees her business as a passion. Over 20 years ago, she started a beauty salon in her own house and in the front of her house she has a small frituria - which means that she fries a variety of foods for sale. About 4 years ago she also started to buy and sell clothes and natural products like medicine and drinks. Sometimes she is so busy with everything she is involved in that her husband and friends help her out. "I simply love to do business," she says.



San Marcos is a poor neighborhood, but the participants in the group think their economy has improved lately and that loans from Esperanza are one important reason for this improvement. It is no wonder that they have chosen Margalena as their coordinator. She is energetic and the one that has the most experience running a business.



With her upcoming loan, Margalena wants to expand her businesses, in particular she wants to sell more clothes. By being responsible with her loan, her businesses, family, group, and neighborhood will have more opportunity to prosper.

Additional Information

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

  • $9,700
    Average annual income
  • 2
    View loans »
    Dominican Republic Loans Fundraising
  • $8,161,575
    Funds lent in using Kiva
  • 35.4
    Dominican Republic Pesos (DOP) = $1 USD

Success!! The loan was 100% repaid

A portion of Esfuerzate Y Sed Valiente 3 Group's $950 loan helped a member expand her fried food business and continue a new business activity: natural products sales.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 7, 2009
Listed
Feb 9, 2009
Currency Exchange Loss:
Covered
Ended:
Aug 15, 2009