Peniel 2 Group
Brigida has a small cafeteria at a local school. Right now she is facing a problem: She doesn’t have anything to keep the drinks she sells cold, so she has to buy ice blocks for this purpose. Sometimes the kids at the school don’t want to buy the water, juices and soft drinks she sells because they’re not cold, which is necessary in a tropical country like the Dominican Republic. So Brigida will use this loan to buy a freezer where she can store the drinks. She has already seen one that is on sale for a good price, she says.
When the school is closed, Brigida sells fried Johnny cakes and drinks at her house. In time, she would like to have her own colmado (convenience/grocery store) so she can sell in the same place permanently.
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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.
About Dominican Republic
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