Paz Y Progreso * 26 Group
Hilaria makes a living by selling flowers in her stall in a market in the centre of La Paz. This is her second loan cycle. Hilaria will use this loan to buy a variety of flowers in bulk, because she makes bouquets for sale around this time and has requests for several social events. She needs to fulfil these orders and lacks the working capital.
Hilaria faces challenges, namely expanding the range of interior and decorative flowers, and will use the loan to expand her business.
She is happy and thankful for this opportunity that has been given to her and the rest of the group members, since they very often have to support their families alone.
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