Los Andes Group
This is her first loan with this institution, and Maria will use it to buy wholesale garments such as sweaters and jackets so that she can stock her business for the cold season. This season is characterized by a lot of sales and even orders. The reason why she is requesting this loan is that she lacks capital. Maria faces challenges to her business such as the daily competition. She will use the loan to buy more merchandise.
Her wish is for her business to be well stocked so that she can offer her clients a variety of products. Maria is happy and grateful to the institution for its support, since it helps her to improve in her business.
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