Sra. Durán is a long-time member and currently serves as the Communal Bank president. Her loan will allow her to diversify and increase her inventory of fruit that she offers from her vending location in Sapaqui. She is requesting to increase her business capital so that she will be able to provide better living conditions for her large family.
Sra. Vicenta is a new member who currently serves as the Communal Bank secretary. She sells CDs in the cities of La Paz and El Alto. Her loan will be used to purchase CDs and VCDs in order to improve her earnings.
Sr. Moises, who is participating in his third loan cycle, serves as the Communal Bank treasurer. There are four members in his family. He is an independent driver and will use his loan to maintain his vehicle. Moises plans to purchase spare parts such as tires and switches. Over time he wants to save enough money to buy another vehicle. This is his first experience working with Communal Banks and having the opportunity to save and improve his family’s income.
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