La Alternativa 1 & 3 Group
Ruth is a middle-aged woman that lives in Samaná, Dominican Republic. She is a mother of 5 children, and she lives together her long term partner. Ruth has been an Esperanza associate for 6 years and this is her 13th loan with us. She is running a small vending business where she sells 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 and to finish building her 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