Barrio Lindo Group
“Barrio Lindo” has elected Cecilia as President. She, as well as the association, is enthusiastic about starting this new experience.
The business that Cecilia is in consists of seasonal crafts. She states that she learned from a niece. She has had her own business for two years.
This initial loan is for Bs.500 and she intends to invest it in work materials. Her family, partner and two children, help her make the crafts.
The other group members also have their own businesses: sale of “rellenos de papa” (stuffed potatoes), vicuña wool weavings, skirt making, blanket weaving, neighborhood grocery store and crafts.
La asociación “Barrio Lindo” ha elegido a la señora Cecilia como presidenta, ella así como su asociación se ven muy animadas al emprender esta nueva experiencia.
El negocio que desarrolla la señora Cecilia es el de artesanías de acuerdo a la época, comenta que aprendió de una sobrina, desde hace dos años tiene su propio negocio.
Este primer crédito es de Bs. 500.- y piensa invertirlo en material de trabajo. Para elaborar las artesanìas recibe el apoyo de su familia, es decir su pareja y sus dos hijos.
Las otras integrantes de la asociación también tienen sus propios negocios: venta de comida “rellenos de papa”, tejido en lana de vicuña, costura de enaguas, tejido de mantas, tienda de barrio, artesanìas.
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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