Mujeres De Union Y Paz 1, 2, 3 & 4 Group
Rosa has operated her used clothing business for about eight years, having started it with some capital she saved from her former enterprise selling underwear. Having promptly repaid her previous loans, Rosa is excited to be taking her 10th loan from Esperanza with which she will invest in her business and buy two packages of clothing. She is planning to use her profits to build her house and further develop the business.
Rosa says that her most difficult challenge has been to stop selling on credit, because sometimes clients do not pay on time; however, not all of her clients can make cash purchases. Meanwhile, she plans to continue to enjoy working, and dreams of completing 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