Dora plans to use her loan to buy this season's clothing in bulk, in order to stock her business. She will buy a lot of sweaters as the weather is starting to get cold. One of Dora's biggest challenges in her business is that she has to walk a lot in order to sell her merchandise, and she would like to use the profits from the goods she sells in order to invest in a fixed market stall. Her dream is to be able to continue selling her clients the variety of merchandise that they demand. Dora is very happy and grateful to this institution for the help it has provided her, and is also very grateful for the other members of her group, all of whom are working very hard to get their families ahead.
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