Flor Del Sol 1 & 2 Group
Christella began her association with Esperanza International Dominican Republic because she was in need of capital, as were her group members and their families. Her story is representative generally of her group and of Esperanza's Dominican and Haitian clients, many of whom recently emigrated to the Dominican Republic from Haiti. Her group is located in the town of Hato Mayor whose economy depends on farming. It is one of the most rural towns in the Dominican Republic. In this town, as in many others, there is a population of Dominicans and Haitian emigrants as well as a scarcity of potable water and electricity.
Christella is requesting a loan to buy a better selection of clothes and shoes to sell. It is her goal to own her own store where she can offer more variety in her merchandise. Christella is excited to be taking her first loan with Esperanza. She hopes to provide for herself and her child while doing business and, within a few years, save up enough to buy her own home.
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