“Mujeres Exitosas”, or Successful Women, is a group of 10 women entrepreneurs seeking their second loan from Esperanza International. The group’s past loan has been successfully repaid, and the group hopes to utilize a second loan for further business expansion. Isela is one of the coordinators of the group in Santiago.
Isela, mother of three (ages: 25, 26, 27) is expecting her first grandchild and is thrilled to share this fact with whomever she comes into contact with. Isela, aided by her first microfinance loan with Esperanza International, opened Dominican snack sales of “quipes” and “pastelitos”, both consisting of a fried dough with a meat, vegetable or cheese filling. Isela plans to use her second microfinance loan to purchase additional materials needed to make her snacks and dreams of one day being able to own her own store from which she may sell these fried snacks.
Other member’s of Isela’s microfinance bank run similar entrepreneurial operations including undergarment, vegetable and ice-cream sales.
On behalf of Esperanza and this group of business entrepreneurs, we would like to thank you for your support!
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.