This loan is her fourth cycle with the institution. Señora María is going to use this loan to buy wholesale fabric. Her reason for asking for the loan is she lacks the cash. Señora María faces challenges in her business, and one is the purchase of various machinery to make her garments. She is going to use the profits to continue buying machinery and materials for her business, and thus be able to generate more income.
Señora María is a very hard-working person who alone gets her family ahead in life; this is the only work she is able to support it with. She is happy for the opportunity offered to her by her group partners since in many cases they support their families alone, like she does.
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