74-25 De Febrero Group
The president of the bank is Irma. She makes a living selling food in her sales stall located in the same neighborhood that she lives in. This is her second loan with the institution. Irma will use the loan to purchase table and chairs for her business. This way she will be able to provide more comfort for customers. She is requesting the loan to be able to continue improving her business. Irma will use the funds to continue purchasing supplies and therefore improve her income. Her dream for her business is to have a restaurant and be able to provide better service to her customers.
Irma is a hardworking person. She is happy to have the opportunity that has been given to her and her fellow group members because in many cases they are people who are the sole bread winners for their families.
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