Nuevo Manantial 1 & 2 Group
Mariluz requires a loan to buy different styles of shoes, swimwear and underwear. This is her first loan with Esperanza International. She will take a step toward improving her business by investing this loan to increase her sales. She has had her business for over two years. Before that she was unemployed and a friend helped her by sending her underwear to sell. When she started to sell them she lived on the income and began to sell in bigger quantities.
She has three children, all of whom live together with her and their father. She will use the profits as savings. Her most difficult challenges are to travel and to take her business sales into a big store.
She says that her favorite thing is to read and study. Mariluz and her group are thankful for your support!
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