La Realeza Group
The bank president is Sra. Elva. She is 62 years old and has five children who are all independent. Sra. Elva prepares and sells bread. She has a bakery that is located in the town of Paurito. The loan she is receiving is her first with Emprender. Sra. Elva will use the loan to buy an industrial oven so that she can provide better service to her customers and increase her earnings. Her reason for requesting this loan is so that she can continue improving her business.
By utilizing the benefits of these loans, Sra. Elva will continue to buy utensils and supplies for making bread. She is a hardworking individual and is pleased with the opportunity that has been given to her and her fellow group members. Some of them are the only ones providing support for 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