The Group 1 from the Florentino Bank of Hope in Los Alcarrizos is on their third loan cycle with Esperanza International. Los Alcarrizos is a large district on the northwestern outskirts of Santo Domingo. Many of its habitants are Haitian inmigrants.
Suze C. is one of the group members. Suze is 31 years old, is married and has 2 children. She sells seasoning and cooking spices in her small business at home. All the other group members are involved in clothing sales. Suze's customers are mostly from her own neighborhood. She will use this loan to buy some more products to continue her activities. Her pastimes include reading the Bible, praying, and thinking about new ways to "spice up" her business. She also dreams of providing her children a good education.
On behalf of Esperanza International, thank you for supporting this group!
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.