This group of five is the newest addition to the Dios es mi Pastor (God is my Shepherd) Bank of Hope in San Pedro de Macoris. This is their first loan for their micro enterprises and they all believe it'll be a great help to their business activities.
Joselin M. is the group representative. She started her business selling clothes, but now is looking to expand by starting a nail salon with this micro loan. She will use the loan amount to buy the materials to do acrylics in her small booth, which will be located at her house. She will also buy the machine used to polish the nails and make them look smooth and natural. She will also use a small portion of the loan to buy pants, blouses and undergarments for her clothing clientele. She believes her hard work will help her achieve her goals and provide a better life quality for her children.
Please help us support the creativity and determination of these ladies. 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.