America Latina Group
Angélica is group president; she’s married and has 4 children. Her husband’s name is Andrés and he’s a barber; he has his barbershop in their home. She sells clothes in the 16 D. Julio market on Tiwanaku D. la Ceja avenue in El Alto; she also sells downtown and goes out to the more distant provinces as well.
The other members are also merchants but in different activities such as: making children’s clothing, clothing sales, brick making. One of the members provides transportation services in his own taxi.
The loan they requested will be used to increase their working capital in each of their businesses. The members have a lot of experience in their work and, despite much competition in the market, the members come up with ways to place or sell their merchandise because the support of their families depends on it.
The members have loans as members of the communal bank and as individuals; they collaborate with a variety of institutions and have much experience. They are enthusiastic about working with us in their first loan cycle.
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.
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Success!! The loan was 100% repaid