Virgen De Copacabana Group

The group “Virgen de Copacabana” is represented by Señor Richard Nelson, who along with the twelve members of his group, are in their third loan cycle and always demonstrate punctuality, responsibility, and unity. A majority of the members of the group earn their living selling second-hand clothing, food, and cold cuts, or in activities such as construction and dressmaking. The members travel around constantly selling their merchandise as their biggest markets are found in areas a long way from the city.

The purpose of this new loan is to obtain more items such as material, building supplies, and clothing so the members can sell in distant areas and earn more money to provide their families with a better quality of life. There is a lot of competition in the central markets so the members are forced to take their products to more distant areas, seeking markets where there is not so much competition. With regard to their experience with credit, the group has been together since the first loan cycle with the institution so they have a good understanding of the group loan system.

Translated from Spanish by Jane Agg, Kiva Volunteer

El grupo ”Virgen de Copacabana” esta representada por el señor Richard Nelson quien junto a los 12 miembros del grupo van cursando juntos su tercer ciclo demostrando puntualidad, responsabilidad y unidad. Una mayoría de los miembros del grupo se dedica a la venta de ropa usada, venta de comida, carnes frías y actividades como la construcción y la confección de prendas de vestir, los socios se encuentran en constantes viajes para acomodar su mercadería ya que su mayor mercado se encuentran en provincias alejadas de la ciudad. El propósito de este nuevo financiamiento es para incrementar su materia prima como tela y material de construcción y mercadería como mas ropa para poder abarcar a todas las provincias lejanas y así poder tener mayores ingresos para darles a sus familias una mejor calidad de vida. El nivel competitivo es alto en los mercados centrales es por esta razón que se ven forzados a sacar su mercadería a las diferentes provincias de la ciudad buscando mercados donde no haya tanta competencia. En relación a la experiencia crediticia se encuentran juntos desde el primer ciclo en la institución por lo que conocen claramente de crédito solidarios.


About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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