The president is Señor Víctor. He is 56 years old, married and is a responsible, dynamic person .His group knows this about him and that is why they elected him president. He works seven days a week as a salaried driver for a well-known company in the city. He will use the money from the loan to maintain his vehicle.
The secretary is Señora Zulma. She is married and crafts shoes for a living from a shop in her home. She sat out for one loan cycle and decided to rejoin the group. She will use the money from the loan to buy leather for shoemaking.
This group has been around for a while and is in its ninth loan cycle. They are grateful to the institution for the support they provide.
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