Yungueñitas 27 Group
The president of the bank is Paulina. She is 68 years old, married with adult children. She works weaving alpaca sweaters and blankets for women. She has her workshop and home in the area of Pedro, Domingo Murrillo.
This loan is her first sequence with the institution. Paulina is going to use this loan to buy wholesale alpaca wool for weaving her sweaters and blankets as at this time she has many sales and also sales deliveries to various markets in the city of El Alto.
Her reason for asking for this loan is to build up working capital. Paulina faces challenges in her business such as supplying her merchandise and she is going to use the loan proceeds to continue buying wholesale materials to weave her sweaters.
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