These two groups belonging to the Dios es Amor (God is Love) Bank of Hope, in La Romana, Dominican Republic, are receiving their first loan with Esperanza International. This vibrant group of entrepreneurs is very excited and hopeful about the course their businesses will take with this new capital injection. Neganis A. is one of the group coordinators. She is married and has 6 children. Her business consists of personal sales of beauty products and undergarments. She sells in her home, and to her own neighbors. Some of the other members' businesses include colmados (small convenience stores) and new/used clothing sales. Since Neganis has to go sell and collect payments from her clients, she dreams of having her own store one day, so she can stay there and customers will come to her instead. She also thinks this will allow her to spend more time with her young children.
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.