La Familia Group
Sr. Reynaldo is the Communal Bank President and works as an independent taxi driver. His loan will be used to maintain his vehicle so that it continues operating without problems.
Sra. Angelica is the Communal Bank Treasurer and head of her household since she has been widowed for several years. She takes care of her two daughters. Angelica works as a school administrator and also sells food in her area. Her loan will increase her inventory and improve her earnings. She plans to buy groceries in bulk since she has many orders. Angelica also has plans to save for her daughters’ education.
Sra. Mercedes is the Communal Bank Secretary and has a family that consists of two members. She is a seamstress and will use her loan to buy fabrics of different quality and styles so that she can diversify her designs and her products. With her savings, she plans to buy a straight-line sewing machine.
All of the members are responsible individuals and hard workers. They are extremely grateful to Emprender for the support it has provided.
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