The “Nueva Luz” (“New Light”) group has 12 members and is represented by Francisco. The group is in its third loan cycle and its members have demonstrated unity, honesty, and the desire to advance their small businesses. The members of the group have various businesses, which include selling Viva and Entel cellular phone cards, clothing from the United States, and “salteñas” (a Bolivian savory pastry). Other members own neighborhood grocery stores, make clothing, and paint houses. Each of the members of the group is very competent in their field and because of this they know how to advance in their chosen businesses.
This loan will be used to develop their businesses by purchasing merchandise, supplies, and tools to increase their earnings. This will enable them to provide a better quality of life for their families.
The group is in its third loan cycle with this lending institution and has proven its capacity to administer its resources and the desire to work hard. For example, they made and sold pastries to raise money for a petty cash fund. They are very organized and very hardworking.
El grupo “Nueva Luz” esta representado por el señor Francisco y conformado por 12 miembros los cuales van cursando juntos su tercer ciclo demostrando unidad, honestidad y ganas de sacar adelante sus pequeños negocios. Los socios se dedican a diferentes actividades comerciales como la venta de tarjetas Viva Entel por mayor y mayor, alguna de ellas venden ropa americanas, abarrotes en tiendas de barrio, venta de juguetes, salteñas, elaboración de prendas de vestir y pintura de viviendas. La competencia dentro de su rubros es alta pese a eso saben sacar adelante la actividad económica a la que se dedican. El crédito esta destinado al crecimiento de sus negocios con la compra de mercaderías, insumos y herramientas para mejorar más sus ingresos que les permitirá darles a sus familias una mejor calidad de vida. En cuanto a la experiencia crediticia las socias van cumpliendo su tercer ciclo con la institución demostrando capacidad para administrar sus recursos y ganas de trabajar como el hecho de hacer macitas y venderlas para recaudar fondos para su caja chica, son muy organizadas y muy trabajadoras.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.