Virgen De Guadalupe Group


Status: Paid Back

$2,425.00   Loan Request
$2,425.00   Paid Back

About the Group

(For privacy reasons, the Field Partner has requested that last names and location be undisclosed)
Group Name: Virgen De Guadalupe Group
Group Members: Salome
Zulma
Elizabeth
Evelin Fatima
Maria Roxana
Yaquelin Lisbeth
Lucia Yovana
Paola
Teresa Cacilda
Melba Roxana
Patricia
Carla Alexandra
Location: Location Undisclosed, Bolivia
Activity: Food Production/Sales

About the Loan

Loan Amount: $2,425.00
Loan Use: Working Capital
Repayment Term: 6 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: N/A
Date Listed: May 25, 2008
Date Disbursed: Jun 9, 2008
Date Funded:May 26, 2008
Loan Ended:Sep 11, 2008

About the Country

Country:Bolivia
Avg Annual Income:$2,817.00
Currency:United States Dollars (USD)



This group is made up of 12 people, all of whom are women. The group’s name comes from the members’ devotion to the Virgin of Guadalupe. All of the members with the exception of a few live in the Central Pampahasi zone and two people live in the San Antonio Bajo zone which is located 22 blocks from the aforementioned neighborhood. This group is well consolidated as they previously worked together in other groups, which is why they know each other very well. Their purpose is the growth of each one of their businesses and many of them work in food sales. A clear example is the secretary, Maria Roxana Fernández Avendaño, who is located in the middle of the photograph dressed in light blue. She has a restaurant where she sells around 30 lunches per day. All of these women are hopeful that this money lent will help them achieve their daily goals.



Name of business, type of business and experience in years: Carla Alexandra Otarola Ayaviri, Crafts and jewelry sales, 12 years of experience; Patricia Hidalgo Arroyo, Food sales, 5 years; Melba Roxana Callacahua Vega De A, Neighborhood Store, 5 years; Teresa Cacilda Balboa Bavia, Employee at a Public Telephone Station, 5 years; Paola Harrison Aranda Fer, Sale of Electronic Products, 5 years; Lucia Yovana Santender De Chavez, Small business employee, 2 years; Yaquelin Lisbeth Baptista Morales, Distribution of food staples, 5 years; Maria Roxana Fernandez Avendaño, Hotel employee, 3 years; Evelin Fatima Paye Carico, Hotel employee, 2 years; Elizabeth Condori Huaycho, Book store employee, 2 years; Zulma Soliz Miranda, Candy Sales, 4 years; Salome Gutierrez De Chambi, Sale of Compact Discs, 27 years.

Translated from Spanish by Aimee Sostowski, Kiva volunteer.



Este grupo está conformado por 12 personas 100% del grupo mujeres. El nombre del grupo viene de las mismas socias por devoción a la virgencita de Guadalupe. Todas las socias a excepción de algunas viven en la zona de Pampahasi central y dos personas viven en las zona San Antonio Bajo, que se encuentra a unas 22 cuadras de la zona mencionada.
El Grupo esta bien consolidado ellas anteriormente trabajaron con otras entidades y por lo cual se conocen muy bien. Su propósito de ellas es el crecimiento de cada uno de sus negocios, muchas de ellas se dedican a la venta de comida.
Un claro ejemplo es la secretaria Dña. Maria Roxana Fernández Avendaño que se encuentra en la fotografía en la parte central vestida de celeste, ella tiene una pensión donde vende alrededor de 30 almuerzos al día.
Todas señoras esperanzadas de que este dinero prestado es para la meta establecida del día a día.
Nombre del socio Actividad Experiencia en años
OTAROLA AYAVIRI CARLA ALEXANDRA ARTESANIA Y VENTA DE JOYAS 12
HIDALGO ARROYO PATRICIA ATENCION DE PENSION 5
CALLACAHUA VEGA DE APAZA MELBA ROXANA TIENDA DE BARRIO 5
BALBOA BAVIA TERESA CACILDA ATENCION DE PUNTO VIVA 5
HARRISON ARANDA FERNANDEZ PAOLA VENTA DE PRODUCTOS ELECTRONICO 5
SANTENDER DE CHAVEZ LUCIA YOVANA ATENCION DE COMERCIAL 2
BAPTISTA MORALES YAQUELIN LISBETH REPARTO DE VIVERES 5
FERNANDEZ AVENDAÑO MARIA ROXANA ATENCION DE PENSIOS 3
PAYE CARICO EVELIN FATIMA ATENCION DE PENSION 2
CONDORI HUAYCHO ELIZABETH ATENCION DE LIBRERIA 2
SOLIZ MIRANDA ZULMA VENTA DE DULCES 4
GUTIERREZ DE CHAMBI SALOME VENTA DE CDS 27


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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Lenders to this group

Sam Snyder
Lawrence, KS
United States

Michael Messina
Des Moines, IA
United States

Tom
Norwich, VT
United States

Good Dogg
Front Porch, www.kivafriends.org
United States

Laurent D
Brussels,
Belgium

Ray
Glasgow, Scotland
United Kingdom

Randi
Denver, CO
United States

Deepu and a bit of Artur
Toronto, Ontario
Canada

Karen
Wayne, NJ
United States

Jillian
Vence,
France

Richard
Toronto, Ontario
Canada

Dirk
AALST, Europe
Belgium

Jessica
Helsinki,
Finland

Tom
Chicago, IL
United States

Julie
Ladera Ranch, CA
United States

Rick Hargett
San Francisco, CA
United States

Anonymous
Denver, CO
United States

Tammy
Crawfordville, FL
United States

Kelly and her students
Kamuela, HI
United States

IGGY
Victoria, B.C.
Canada

Charlie
Shrewsbury, Shropshire
United Kingdom

Kent and Sally
Oak Harbor, WA
United States

Geoff
Melbourne, Victoria
Australia

Anonymous
Craigmore, South Australia
Australia

Anonymous
Needham, MA
United States

Dorothy Anne
Lansdowne, VA
United States

Maurice
High River, Alberta
Canada

Mark Bruns
George, IA
United States

Octavia
Toronto, Ontario
Canada

Francois
Toronto, ON
Canada

JU YONG
SEOUL,
Korea, Republic of

Jenn and Dan
Taipei Taiwan,
Taiwan

Natasha
Melbourne
Australia

Terri
Hammonton, NJ
United States

Pomerleau Family
Gibsonia, PA
United States

Ron and Marlene
Andover, Minnesota
United States

Ole Hermann
OSLO, N
Norway

A&U
Houston, TX
United States

Steve Silver
Nishinomiya, Hyogo-ken
Japan

Stephanie
Little Rock, AR
United States

Lene
Aarhus N,
Denmark

Trace
Solana Beach, CA
United States

Micheline
Ottawa, Ontario
Canada

Ashley
Chicago, IL
United States

Simone
Roma, Roma
Italy

Dean
Lynn Haven, FL
United States

heru
Surabaya, east java
Indonesia

Gerald
Oakland, NJ
United States

Anonymous
Canton, MI
United States

gerry
wilton, CT
United States

Jim KivaFriends.org
Fort Worth, Texas
United States

Anonymous
bellevue, WA
United States

Odette
Gibsons, British Columbia
Canada

Louise
Oakland, CA
United States

Geoff

Christmas Island

Matthew, J.R. & Annette
Hendersonville, NC
United States

Sue
Austin, TX
United States

Jan & Gary
San Leandro, CA
United States

Anonymous
Garland, TX
United States

Avi & Rivka
Northwood, Middlesex
United Kingdom

Vicki
Vancouver, British Columbia
Canada

Anonymous
Lincoln, NE
United States

Anonymous
Montreal, Quebec
Canada

Anonymous
Auburn, AL
United States

Peter
Winsley, Wiltshire
United Kingdom

Brooke
Kula, HI
United States

Anonymous
San Jose, CA
United States



Journal entries for Virgen De Guadalupe Group


Loan has been disbursed
 
Entrepreneur: Virgen De Guadalupe Group
Location: Location Undisclosed, Bolivia

Thank you for your loan. It has been disbursed to the VIRGEN DE GUADALUPE group, consisting of Carla Alexandra, Patricia, Melba Roxana, Teresa Cacilda, Paola, Lucia Yovana, Yaquelin Lisbeth, Maria Roxana, Evelin Fatima, Elizabeth, Zulma, Salome by Fundación Agrocapital in Bolivia. We are excited to watch this business grow. Over the next 3 months, Fundación Agrocapital will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Location Undisclosed, Bolivia
Jun 9, 2008
Comments (2)

Virgen de Guadalupe’s Kiva loan
 
Entrepreneur: Virgen De Guadalupe Group
Location: Location Undisclosed, Bolivia

Unfortunately, the Virgen de Guadalupe communal bank has struggled with the loan they took out from Kiva. The group is currently several weeks behind schedule on their repayments, and owes about $600 total to AgroCapital. A handful of the 13 women in the group have made all of their repayments, and are very worried about how this debt will affect their credit rating in the future. The women who have repaid are currently working on a strategy to track down and collect payment from the other group members; there is some suspicion that certain group members may have other loans out with different microfinance banks and are trying to pay off multiple loans simultaneously. This is a recurrent problem in Bolivia—since there are many well-established, highly competitive microfinance institutions in the country, it’s not uncommon for clients to take out a loan at one institution to repay a debt with another institution. As Don German, AgroCapital’s head of communal banking, says, “It like digging a hole to fill in another hole.” Delinquent groups like Virgen de Guadalupe are frustrating for both the supervising loan officer and the responsible group members who have made their repayments on time but who are affected just the same. Fortunately, they are not the majority of groups.

Don German says that the group dynamic is very important when it comes to communal banking. The group members should know each other well and be sure they can trust one another, otherwise situations like these can occur. This sometimes happens when groups add additional members hastily so that they can reach the minimum number of persons required to take out a loan.

There’s still hope for the group, however. Their loan is currently delinquent but has not yet been categorized as defaulted. Most of the women who are behind on their payments have vowed to repay in the next couple of weeks, saying that they just don’t have the money right now, but promise to get it somehow.

Note: Since Kiva’s repayment system is both automated and somewhat delayed, it does not show that the Virgen de Guadalupe group has missed any payments. Lenders will be notified if the group does actually default on this loan. If they are able to repay the loan in full, the only notification you will receive is your Kiva credit.


Posted by Cynthia McMurry from Location Undisclosed, Bolivia
Sep 1, 2008
Comments (2)

Kiva Help Repayment Schedule for Virgen De Guadalupe Group

  Expected Repayments Actual Repayments Comments
September 2008 $808.33 $809.00 Repayment Received
October 2008 $808.33 $809.00 Repayment Received
November 2008 $808.34 $807.00 Repayment Received