Las Amigas Unidas 1 Group
The members of Group 1 of the Amigos Unidos (United Friends) Bank of Hope have already been clients of Esperanza International for a year. They have experienced success in their businesses and most of them are expanding the activities with which they first started. The group members have businesses in prepared food sales, breakfast sales, and water distribution.
Serge D. is the group representative and he owns a souvenir shop in San Pedro de Macoris. His souvenir shop mostly caters to tourists. He sells crafts made of materials like clay, thatch, and wood. With this loan, he will purchase some paintings (Haitian art has an especially high demand in souvenir shops in Dominican Republic), along with some beach apparel like towels, bathing suits, and sunscreen. He would like to see his shop become a reference for souvenir shops in San Pedro de Macoris, and to be a better Christian each day.
Please help us support these entrepreneurs through this Kiva loan. Thank you!
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.
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Success!! The loan was 100% repaid