Esther lives in a popular area of the city of La Paz. She has a large family. She is an old participant in the bank and currently is the treasurer. Mrs. Calderón is dedicated to making and selling bread from her home. With the loan she can buy flour per hundredweight. This enables her to increase her production thereby improving her quality of life.
Daniela is a young participant, but one of the founders of the group. Currently, she occupies the job of secretary. She works selling beauty products. With the loan, she will buy perfumes, deodorants, talcs, and jewelry in bulk and at discount which will allow her to save so she may pursue her education and finish university.
About EmprenderEmprender has been working in Bolivia since 1999. It is dedicated to becoming a key tool in the development of its clients and the improvement of their quality of life. Operating in three of Bolivia’s major cities – La Paz, Cochabamba, and Santa Cruz – Emprender offers both urban and rural clients the opportunity to obtain financial products tailored to fit their needs and businesses. These products include housing loans, salary loans, “opportunity” (short-term) loans, and higher education loans. To better the quality of life for its clients and non-clients through non-financial services, Emprender offers free medical consultations and health classes given by trained doctors.
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