The 10 group members of the Dios Verdadero (True God) Bank of Hope live in San Pedro D. Macoris in the southeastern Dominican Republic. Groups 1 and 2 from this bank are participating in this loan.
Juana T. is the Group 1 Coordinator She has a 14-year old child and runs a small variety store in her house where she sells a variety of products, specializing in accessories. Juana will use this loan to buy new merchandise to sell so she has more variety to offer her clients. Her dream is to own a boutique some day.
Most of the other group members are engaged in diverse retail activities, from selling undergarments to bread and fish. Some others have repair shops or cafeterias. They are all looking forward to expanding their businesses to keep providing their children and families with an improved quality of life.
On behalf of Esperanza International, 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.