Princesitas Ii Group
She is as soft as a butterfly, as delicate as crystal, but as strong and courageous as the most precious diamond. Her business is located in the Plan 3000 neighborhood which is known to house the survivors of the river flood. These days, it has become a manufacturing area.
Lorena has cinnamon-colored skin and doesn’t need any tanning cream. She has superabundant jet black hair, and sweet lips like the fruits that the birds eat. She is the third from the left, wearing a light blue shirt and black shorts. She shares her life with her husband who works in transport and with their children who go to school. They live in a rented room built of brick and enjoy potable water, electricity and sewer services. The desire to increase her income to pay the school expenses of her children brought her to lead an entrepreneurial bank. The members’ businesses are: sewing sheets, food sales, used clothing sales, a locksmith shop, fruit sales, electricity service, and juice sales. Her business is a bookstore where she sells items such as notebooks, folders, pencils, markers, card stock and more. School has begun and many parents, and also teachers, seek ways to save on school supplies as well as pretty and creative accessories to stimulate the students’ imagination. “I am a mother and I look for ideas to organize all the materials and other items that we use in schoolwork…” she says. Her business is successful seasonally. The advantage of her business is that she has strong sales at the beginning of the school year. The disadvantage is the lack of school supplies to supply and stock her stationery store. Her dream is to expand her bookstore with a photocopier. She wants to purchase a variety of school supplies to stock her bookstore. This is her first loan cycle with the institution in the 5 years she has been doing this work.
For these reasons, Lorena asks for a loan to purchase an assortment of school materials to stock her bookstore in the school season.
Emprender 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.