El Gran Esfuerzo 1, 2 & 3 Group
Edicto is a hardworking father of six children. He lives with two of them and their mother, and the rest of his children are living in their own home and some in Haiti. He tells us that his biggest challenge is to have his own house, and he is saving his business profits to start building it. He operates a clothing sales business, and with this loan he will invest by purchasing products like pants, blouses, shirts, and underwear.
Edicto is very excited to receive his tenth loan through Esperanza Internacional, after having successfully repaid his previous loan. He has had his business for about six years. He started with the first loan he received from us. His dream is to have a house and to live quietly in it with his family.
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