Caminando Hacia El Progreso Group
Facundina and the other borrowers in Caminando Hacia el Progreso live in a small town northwest of San Pedro called El Puerto. Facundina is married and has three children, ages 7, 4, and 7 months. She and her family live in a typical Dominican home: cement floors, wooden panels for exterior walls and a tin roof. With profits from her business, she hopes to improve her house so her children have a safer place to live.
With this loan, her very first with Esperanza International, Facundina plans to purchase ingredients for her small bakery, including flour, oil, sugar, and eggs. She has never used credit before, and is excited for the opportunity provided by extra cash flowing into her business. Facundina hopes to continue growing her bakery and take out more loans in the future. She also has dreams for her children to grow up with good health, study at good schools, and have a better life when they become adults. With an expanding business, Facundina knows that these dreams can come true. Thank you for lending to Facundina and the Caminando Hacia el Progreso group!
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