16 De Julio Group

The members of the group “16 de Julio” (July 16th) are mostly residents who live in the area of the same name. They meet at the “Los Andes” Community Center every 2 weeks. They have joined together because of their need for working capital to improve their businesses.

The members are engaged in different businesses. Some are involved in making handicrafts, producing items such as purses, hats, and blankets. These products are made by hand using rope or rat’s tail (a plant native to South America). Other members sell products such as clothing, candy and food.

They all need a loan to purchase raw materials, such as rope, or acquire more merchandise to sell in the market.

Translated from Spanish by Ronan Reodica, Kiva Volunteer

Las integrantes del grupo “16 de Julio”, son personas que en su mayoría viven en la zona del mismo nombre y asisten a sus reuniones al Centro Focal “Los Andes”, cada dos semanas, ellas se agruparon por la necesidad de contar con un capital de trabajo que les permita mejorar sus negocios.

Diversos son los negocios de las integrantes de “16 de Julio”, algunas se dedican a la artesanía, produciendo prendas como carteras, sombreros y mantillas, los mismos están hechos a mano utilizando cordeles o cola de rata, otras se dedican a la comercialización de productos vendiendo ropa, dulces y alimento.

Todas necesitan el préstamo para la compra de materia prima como el cordel, o adquirir mayor mercadería para venderlo en el mercado.



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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