Grupo Brisas 3, 4, 5 & 6 Group
Adriana is excited to be taking her first loan with Esperanza. She has had her business for around three years, starting first by looking for clients who wanted to buy meats on request and then she obtained the products. She plans to use this loan to invest in her business of meat sales by buying 150 pounds of pork and beef. She will use the profits to save and to invest in her business for now.
This Esperanza associate began with us because she wants to improve her business. Her story is representative of her group and of Esperanza's Haitian and Dominican clients, many of whom recently emigrated to the DR from Haiti. Her group is located in the urban slums surrounding Santo Domingo. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable running water (none of which is potable) and electricity.
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