Marie and Ludine N. are 39 and 29 years old. They are members of the Poderoso (Powerful) Bank of Hope. These borrowers live in Los Guaricanos, a wide area located in the northern outskirts of Santo Domingo. The people in this area suffered severely from unemployment after the closing of the state cement factory a couple years ago, so they have been moving to different activities since then.
Marie is married and has four children. Ludine also has four children, but she is not married. Marie has no formal education, while Ludine has some college education. Both of them, as well as all the group borrowers, are in clothing sales. They purchase large quantities of clothing that contain a variety of items for men, women and children.
Marie and Ludine hope that this second loan they are taking from Esperanza International will allow them to have merchandise available for a longer time in order to meet their customers' demands. Ludine also hopes her profits are good enough so she can go back to college and finish her career.
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.