Embajadores 1 & 2 Group
Juan plans to use this loan to invest in his business: a fruit stand where he sells all kinds of fruit. He makes his home in a simple structure with his long-term partner and two children. He has had his business for almost four years, starting when he stopped working in private enterprise. He says that his most difficult challenge for now has been to travel to the USA. In the meantime he plans to continue to enjoy his work, being with his family and playing dominoes. He will use his profits to invest in his business and house. His future plan is to have a fruit mall and a vehicle.
His group is located in rural areas surrounding La Romana, where the sugarcane harvest and tourist industry dominate the economy. This area, like nearly all impoverished areas of the Dominican Republic, suffers from unreliable electricity and running water (none of which is potable).
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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