7 De Marzo - 72 Group
Mónica sells cosmetics buy catalog. She sells her products in an itinerant manner. She visits, in order to offer her products, homes and public and private offices in the city of Santa Cruz.
This is her first cycle with the institution. Mónica will use this loan to buy wholesale cosmetics and jewelry that are on promotion. This way she will give her customers a variety of products and increase her income. Her reason for requesting this loan is to continue improving in her business. Mónica will use the profits to continue buying a variety of beauty products.
Mónica is a very hard-working person. She is happy about the opportunity given to her and her colleagues in the group because some of them support their families by themselves.
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