Mrs. Julia is treasurer in the communal bank. She is a very hard-working person and lives with her husband Bernardo and her 3 children. He is a masonry contractor. Julia sells cosmetics. With her loan she will increase her capital and in this manner augment her paying capacity, in order to gain access to a larger loan, since she is thinking of buying a lot on which to construct her own little house.
Facio is a new member of the group. He was born in the city of La P. but now lives in the city of Santa Cruz. His profession is dental prosthesis technician and he has a small clinic where he attends to his clientel. His principal object is, in time, to have a much larger clinic that is more comfortable for his clients. So, his loan will be used to buy some furniture for his clinic.
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