Bolivianitas - 26 Group
The bank president is Angelica. She is 40 years old and has two children who are 12 and 19 years old who are studying at school and university. She works selling breakfasts, an activity that she does every day from her facility in her own home in the area of Vino Tinto, preparing and offering her customers various breakfast dishes. This activity is her main source of income for her and her family. She started this together with another person that helps her in preparations and in attending to the clients.
The loan is to be used to purchase wholesale furniture and to expand her business. Angelica is a hard working person with many years experience in this business of selling breakfasts.She is very grateful with the institution for the support given to her as this is her only activity with which she maintains her family and she is also grateful for the help of her friends in the group as in many 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