Elisa is a talented and dynamic young woman with two children, ages two and eight. She lives in the beautiful town of Samana. Elisa wants to start a business selling clothes and shoes with this loan. Elisa is excited to start maK. an income to support her family, and wants to continue expanding her business in the future. With profits from this loan she will be able to buy abetter quality of food for her children and will also have the ability to buy medicine when they are ill. Elisa told us that she loves visiting her church, and her favorite food is “sancocho”, a very popular Dominican soup.
This loan will also go to help fund the businesses of the other group members. In a group loan, each member helps to support and guarantee the loans of the other members.
Thanks for supporting this group of entrepreneurs!
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.