Arca De Noe Group
The group formed thanks to the initiative of three members, including:
Mrs. Virginia, who together with her spouse makes and sells soccer balls that are distributed in the different markets of the area. With the income that they generate, they are able to cover the costs of their home and the education of their children. With the money from the loan, Virginia will buy material to make soccer balls.
Mrs. Roxana, who is one of the youngest members of the group. She is 21 years old, but that doesn't stop her from taking care of her business. She sells food from the home that she has been renting for 3 years. Every day she gets up very early to buy her groceries and meat that she needs to make the lunches that she sells at her apartment. Through this, she is able to contribute to the finances of the household, since she has a son and her husband works as a musician on the weekends. With the loan, she will buy merchandise like groceries and ingredients to make her dishes.
All of the women are responsible and hardworking and are very thankful to the bank for the support it has given them.
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