Siempre Amigas Alegres - 26 Group
She works selling seasonal clothing. She sells from place to place visiting various markets and street fairs. This loan is her first sequence in the institution and Basilia will use it to buy clothes like sweaters and jackets at wholesale to stock her business since the cold season is approaching and she sells much then and also has pending orders. Her reason for requesting the loan is lack of capital.
The business challenge Basilia faces is daily competition. She will use profits to buy a sales stand. Her wish for her business is to have assorted merchandise to offer wider variety of products to her customers. Basilia feels happy and grateful to the institution for the support provided because it allows her to improve her business and improve her income.
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