Nueva Esperanza Group
Elvira is the president, and is the leader and founder of the group. She has a business selling groceries on one of the most populous streets in the city of Cochabamba. She is separated and has five children who are all independent of her. Elvira owns her business and the loan that she requested is for the purchase of merchandise like pasta, oil, rice, and to increase her working capital.
Julia is the treasurer and is married with two small children. She has a neighborhood store in her house and she requested the loan to increase her capital. She is a previous borrower and has proven to be a very responsible person and punctual with her payments.
All of the group members are responsible and hardworking people and they are grateful to Emprender for the support provided. One of the group members does not appear in the photo.
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