The Fuente de Bendicion Bank of Hope from San Pedro de Macoris is starting their entrepreneurship with their first loan from Esperanza International. Joselania S. and Maria G. are the two group coordinators. Joselania is the mother of 5 children between the ages of 16 and 7, and Maria has a 6-year-old son. Joselania has a clothing sales business, and Maria has a vegetable stand. Both will use their loans to buy new products for their customers. They find their daily work is their biggest challenge, but they also believe having their own businesses will allow them to take better care of their children by being self-employed and generating income to provide for their needs. When asked about their dreams for the future, Joselania answered she would like to own a large boutique. Maria want to have her own grocery store and a house of her own.
Please support these entrepreneurs as they start their businesses thanks to this loan.
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.