La Fuerza De Cristo Group
Marcelo’s group is located in La Romana, a rural area of he country dedicated to the sugar cane harvest, where running water (none of which is potable) and electricity are unreliable. He makes his home there in a simple structure with his wife and their one child.
Marcelo is excited to be taking his second loan with Esperanza after having successfully repaid his previous loan and grown his business. He plans to use this loan to invest in his food sales business, a small neighborhood general grocery store (colmado), by purchasing necessary products for sale: rice, sugar, oil, etc.
Marcelo will use the profits to work towards expanding his colmado in the future. He hopes his dream of a bigger and more prosperous store will come true and he thanks you all 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.
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Success!! The loan was 100% repaid