Luz En Desarrollo 1 Group
Joaquina is a member of the group 'Luz en Desarrollo 1' which translates to 'Development light'. The group is in Los Alcarrizos which is located north of the city of Santo Domingo which is a very industrialized city with a large population. Los Alcarrizos is dependent on the companies and economy of Santo Domingo. Like in many other cities, Los Alcarrizos has a shortage of drinking water and electricity and includes a Dominican population as well as a population of Haitian immigrants.
Joaquina is very happy to be receiving her fourth loan with field partner Esperanza Internacional. With this loan she hopes to be able to get ahead and to have a successful business. She plans on investing her loan in purchasing various materials like thread, linen and accessories to make different styles of decorations. She plans on saving her profits. She wants to have a local business and she is dreaming to have it soon. She wants to dedicate her time to improve her business and start other projects.
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