Sol Naciente - 32 Group
Flora is a 68-year old married woman with two adult children who are now living independently. She has a business selling clothes. She has a stall in a popular market in the city of Cochabamba. This is her first loan from this institution. She will use the funds to buy clothing at wholesale for her business. Her reason for seeking the loan is lack of capital. She faces challenges in her business such as daily competition. She will also use the funds to continue to make improvements to her stall. She hopes to keep her business well-stocked so that she can offer a variety of products to her customers.
She is thankful to the institution for their support that they have provided to her. She is also grateful for her fellow group members since they all work hard to provide better conditions 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