Mujeres Vencedoras Group
The president of the bank is Yolanda. She is 58 years old and has a 13 year old child. She works selling various products in her neighborhood store which is located in the Puente Topater area.
This is her first loan with the institution. She is going to use the loan to buy a variety of products such as cookies, sweets, groceries and drinks in order to supply her store. Since her store is in a good location she has lots of sales.
Yolanda faces challenges in her business since it is competitive as there are other stores in the area that sell the same products that she does. Her desire for her business is to continue increasing earnings and that her business continues growing. She feels happy and grateful to the institution for its support.
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