La Fortaleza 1 & 2 Group
He will use this loan to buy different animals; he has a butcher shop where he sells beef, pork, chicken and goat meat. He is excited to be taking his 10th loan with Kiva partner Esperanza, after having successfully repaid his previous loans and grown his business. Edermiro started his business with his first Esperanza loan, almost six years ago.
He will both invest the profits in his business and continue to save for his own house. His dreams are to live confortably and save up with his partner. He became interested in and motivated by others to join Esperanza after he was encouraged by others in this group to be part of the program and start his business.
His most important challenges are to save and rebuild his house.
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