Los Lirios 1, 2 Group
Yojane is excited both to take her fifth loan with Esperanza and to grow her business like her friends who are already participating in Esperanza. She plans to use this loan to invest in her business selling clothing and miscellaneous products by purchasing more merchandise. She will use the profits and savings to invest in her house by building a concrete roof. Prior to starting the business, it was really difficult to save or to buy things for her house and family. Now she has the opportunity to support some of those needs.
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