Amistad Group

The members of the AMISTAD (friendship) group are all from the same neighborhood, and each one of the women has her own business where she works daily, for instance, selling different kinds of food, sewing, running a grocery store, promoting cosmetics, or selling bedding supplies and clothing. There is competition for these businesses but these women know how to keep moving forward. They plan to use the loan to grow their businesses with more capital so they can make them stronger in the future. This the third loan cycle for the AMISTAD Community Bank, and the previous ones have gone very well. Some of the members work only with AgroCapital, while others work with other partner microfinance institutions. AMISTAD is an organized group. At each meeting the members conduct a raffle to increase their petty cash fund and can finish their loan cycle with more savings. For their meetings they prepare snacks and once in a while get together on holidays, like on Mother's Day or Friendship Day. It is a very organized group.

Translated from Spanish by Marty Greenstein, Kiva Volunteer

Las socias de AMISTAD son todas del mismo barrio, cada una de ellas tienen sus propios negocios con el que día a día trabajan, como ser venta de comida, costurera, venta de pan, tienda de abarrotes, venta de refrescos empanadas, promotoras de cosméticos, venta de sabanas, venta de edredones, venta de ropa. En cuanto a la competencia en sus negocios indican que existe pero pese a eso ellas saben sacar adelante sus respectivos negocios. El crédito lo utilizan para hacer crecer sus negocios tener más capital, tener a futuro un negocio consolidado. Los antecedentes crediticios de este Banco Comunal AMISTAD van por el tercer ciclo es muy bueno todas se llevan bien, son bien activas. Algunas de las socias trabajan solo con Agrocapital y otras trabajan extra con otras entidades financieras. Amistad es un grupo organizado, ellas en cada reunión llevan a cabo una rifa para hacer crecer su caja chica y así al finalizar el ciclo puedan tener más ahorros. Para sus reuniones preparan refrigerios y de vez en cuando comparten alguna festividad como ser el día de la madre o día de la amistad, es un grupo muy organizado.


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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