Mujeres Unidas Con Proposito Group
Eladia is the mother of three married children aged 19, 28, and 31. Her business is selling undergarments. Daily she travels the streets of Santiago with her garments to sell to local women. She declares business is good and she is able to sell inventory daily.
Eladia's past two loans have been used to purchase additional undergarment pieces to sell; because of the success of her business and the customer base she has developed, she plans to start food sales from her home. Her third loan will be used to purchase rice, beans, oil, and other needed Dominican food and cooking staples. Because of her loyal customer base she is able to sell her products on credit, something that local grocery stores cannot offer.
Other member’s of Eladia’s microfinance bank run similar entrepreneurial operations, including small grocery stands, beauty salons, and vegetable and clothing 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.
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Success!! The loan was 100% repaid