Esperanza Y Fe 1, 2 & 3 Group
Yodany plans to use this loan to invest in her business by buying dozens of underwear items for men, kids and women. Also, she is planning to buy clothes. She will use the profits to invest in the business and to save, because she has a dream to have a beauty salon and a spa. Yodany's group is located in the rural area surrounding La Romana, where the sugarcane harvest and tourist industry dominates the economy.
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