La Nueva Guardia Group
The president of the bank is Nancy. She is 39 years old with a 17 year old child who is a university student. She works selling food and drinks, an activity that she does every day in her facility located in her own home in the town of La Guardia. She prepares and offers her customers a variety of dishes. This activity is the main source of income for her and her family. She started this business together with another person who helps in preparation and in serving the clients.
The loan will be used to buy wholesale supplies (potatoes, rice, noodles and other items) to stock her pantry. Nancy is a very hardworking person who has years of experience in this business of selling food and she is very grateful to the institution for the help given to her as this is the only activity with which she can support her family and also she is grateful for the help of her friends in the group who in many cases are the sole provider of their households.
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