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La Alternativa 1 & 3 Group
In this Group: Ruth, Wandy, Santa, Juana, Alida, Rosa, Felipe, Teresa, Basilia, Isidra
Ruth is a middle-aged woman that lives in Samaná, Dominican Republic. As a mother of 5 children, her small vending business allows her to support her family's income, by adding to the income from her long term partner. With this particular loan, Ruth is looking forward to the possibility of acquiring more inventory such as cosmetics and beauty products. The earnings from her business will allow her to continue to support her children and put her one step closer to her dream, which is to run an ice cream store.

Ruth is just one member of the 10 person group, La Alternativa 1 & 3. Together, these Dominican entrepreneurs are able to unite in solidarity, allowing them access to funding that they would otherwise never be able to receive on their own. The concept of this group bank paying their loan together is to reduce the risk of one person defaulting, as the other members gladly help cover one another’s payments in order to receive their next loan together.

Ruth has been an Esperanza associate for 5 years. This is her 11th loan. All her previous loans have been paid and invested in her business. Her story is representative of this group and of Esperanza's Haitian and Dominican clients generally, many of whom recently emigrated to the DR from Haiti. Her group is located in Samaná, a lush rugged peninsula with a nascent tourism industry. This area, like nearly all impoverished areas of the Dominican Republic suffers from unreliable running water (none of which is potable) and electricity.

Additional Information

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

  • $9,700
    Average annual income
  • 0
    View loans »
    Dominican Republic Loans Fundraising
  • $8,583,700
    Funds lent in using Kiva
  • 37.3
    Dominican Republic Pesos (DOP) = $1 USD