Yrene is a member of a loan group called Unidos para el futuro (United for the Future). Its members live in the urban slums surrounding Santo Domingo, where running water is non-potable and electricity is unreliable. She is excited to be taking out her seventh loan in four years from Esperanza, because these loans have allowed her to buy more rice to sell to her customers. In the Dominican Republic, rice is often the day's main meal, which is why Yrene went into business buying rice wholesale and selling it in small bags, sometimes on credit. She uses her profits to reinvest in her business. She lives with her long-term partner and their three children in a very simple home in one of the poorest neighborhoods in their area. Despite her poverty, she is determined to care for her children and pay for the cost of their education. She thanks you 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.