Mujeres Activas, Group 1, 2, 3
Teresita is the group coordinator of the Banco de Esperanza (Bank of Hope) Mujeres Activas (Active Women). Her story is representative of both her group and of Esperanza's Dominican and Haitian clients (many of whom have recently immigrated to the DR). The group is based in Puerto Plata in a community that has unreliable access to running water and electricity and lacks trash service.
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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Success!! The loan was 100% repaid