22-Amanecer De Villa Tunari Group
The president of the bank es Martha, 29, who is single with four children ages 10, 8, 6 and 2. She makes a living sewing skirts for the "Cholitas" (members of a Bolivian indigenous movement) in her own workshop which is found in the Villa Tunari zone of the city of El Alto.
This is her first loan cycle within the Institution. Martha is going to use the loan to purchase fabric for the making of skirts. The reason she is requesting this loan is the large demand she has. She has orders to deliver to different markets, and lacks capital for the purchase of fabric and thread.
Martha faces challenges in her business such as the lack of equipment and sometimes a lack of material when they give her wholesale orders, depending on the work she has to do. She is going to use her profits to buy fabric.
Martha is a hard-working person whose wish is to have a big workshop and hire employees, and that way she can teach young people the trade of apparel making.
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