Las Moreñas Group
Lorena is going to use this loan to buy ingredients at wholesale, such as potatoes, rice, noodles and cooking oil, for making her meals. In this way she will increase her working capital.
Her reason for applying for this loan is to continue improving her business. Lorena is going to use the profits to keep buying supplies and improving her income. Her wish for her business is to have a restaurant and this way provide greater comfort to her customers.
Lorena is a very hard-working person, and she feels happy about the opportunity offered to her and her fellow group members, as in some cases they are the sole support of their families.
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