Pedro Lorenzo Group
The president of the group is Maryluz. She is twenty-two years old and unmarried though she lives with her partner. She doesn't yet have children. She makes her living selling food and lives in the community of Pedro Lorenzo, which is the origin of the name of the entrepreneurial bank. This is her first loan cycle with the organization.
Maryluz will use this loan to buy ingredients such as rice, noodles, potatoes, and oil for the preparation of her dishes. Maryluz faces challenges in her business such as expanding her clientele. She will use the proceeds to improve her family's quality of life. Maryluz is very happy and grateful to the organization for the support it has given her and her fellow group-members, who are in many cases individual people who help their families get ahead.
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