Barrio Lindo Floresca Group
Ernestina's business is selling food from her home. She has been in this business for two years. Ernestina is married to Vicente, who is an electrician, and they have two children who are in school. Ernestina requested this loan to buy supplies and ingredients such as rice, noodles and oil wholesale. She will use these to make her delicious dishes. Ernestina's wish is to eventually own a restaurant and see her children become professionals. The members of this group are grateful to our institution for having placed our trust in them and given them the support they need to grow their businesses.
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