Nueva Vida Group
Each of these women found themselves in the desperate situation of prostitution as a last resort to feed their children. Through microfinance, beginning small businesses with $150 loans, these women will be able to find a new way to provide for their children with dignity. Several have decided to buy and sell clothes, traveling to the nearby city of Santiago to purchase shoes, pants, and shirts for resale in the villages. Others have chosen to open small shops in front of their homes where they are able to sell juice, bread, cookies, or fried foods while still taking care of their kids. With their first-ever loan, we at Esperanza are confident that the 40 days of training and this small loan will impact these women's lives forever as they truly take on a new life.
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