Dios Bendice 1 & 2 Group
Jesimena plans to invest in her comedor and small restaurant in her batey (or neighborhood) by buying rice, beans, flour, oil, vegetables and meats. She cooks a daily lunch for different people in her community or employers and dreams of having a big restaurant in the nearest town. She will use her business profits to buy chairs and table, because she want to rebuild her local 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). Generally, her group is located in the rural areas surrounding La Romana, where the sugarcane harvest and tourist industry dominate the economy. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable electricity and running water (none of which is potable).
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