Ignacio Warnes Group
Señora Jacinta is 33 years old and is not married, but she lives with partner with whom she has two children aged 3 and 2 years old. She works selling clothing. She has a store located in the Ignacio Warnes neighborhood, from which the bank takes its name.
This loan will be her first lending cycle with the institution. Señora Jacinta will use this loan for the purchase of seasonal clothing for winter, and in this way will increase her working capital. Her reason for requesting this loan is to invest in merchandise. Señora Jacinta faces challenges in her business, namely her competition, and she will use her profits to increase her merchandise. Her dream for her business is to acquire a store in a market.
Señora Jacinta is a very hard-working person, who is happy and grateful to the institution for the support provided to her and her companions in the group.
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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