Las Palmas Group

Vilfi Leiva is the representative for the communal bank "Las Palmas." The bank is located in the San Juan de Dios neighborhood, where all of the members live and know each other. There are family ties between Mrs. Velfi Leiva and Mrs. Augusta; they are first cousins, however they maintain independent incomes.

All of the group members have small businesses that sell things like cosmetics, food, bread, plastic tubes, shoes, clothing, as well as businesses that provide services like tailoring and clothes laundering. Within this commercial area there is a lot of competition, especially with importing name brand products. The purpose of these loans is to diversify their products in order to give them an advantage over the competition. Also, they will buy material and work tools to improve their products. The members have experience with solidarity groups because of their experience with organizations similar to the Agrocapital Foundation.

Translated from Spanish by Rebecca Morey, Kiva Volunteer

El banco comunal "Las Palmas" esta representado por la señora Velfi Leiva y ubicado barrio san Juan de dios donde todas residen en el mismo barrio y se conocen entre si, existe un parentesco familiar entre la señora Velfi Leiva y la señora augusta, ellas son primas en primer grado, pero ambas tienen ingresos independientes. Todos los miembros del grupo tienen sus pequeños negocios de venta de productos como cosméticos, comida, pan, tubos de plásticos, zapatos, ropa y a actividades como la confección de prendas de vestir y al servicio de limpieza. Dentro del ámbito comercial existe gran competencia en especial con la importación de productos de marca. El destino del financiamiento es para la diversificación de sus productos para hacerle frente a la competencia y a la compra de material y herramientas de trabajo para mejorar sus productos. Las socias tienen experiencia en grupos solidarios por la experiencia en entidades similares a la fundación agrocapital.


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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