The Nueva Esperanza II Communal Bank, which is entering into its first loan cycle, is made up of eight members who live in the Nueva Esperanza area. They each have their own businesses. Their president is Sonia, who is 43 years old and has lived in the area for nine years. Her business is selling food from her home and she has been doing this work for three years. She has a second job as a caretaker at a school where she also sells her delicious dishes. Sonia is someone who works a lot and makes an effort to get ahead and improve the quality of life of her whole family. With the money from the loan she will buy ingredients such as rice and noodles wholesale. Sonia and her fellow bank members are very thankful to their bank for having trusted them and offered them the help to be able to make their businesses grow.
El Banco de emprendimiento NUEVA ESPERANZA II, entrando a su 1er ciclo conformado por 8 integrantes que viven en la zona de Nueva Esperanza, cuentan con negocio y actividad propios, la presidenta es la Sra. Sonia de edad de 43 años vive en la zona hace 9 años, tiene como actividad la venta de comida en su mismo domicilio se dedica a esta actividad hace 3 años, como actividad secundaria es portera de un colegio donde también ofrece sus riquísimos platillos, la Sra. Sonia es una persona que trabaja mucho y se esfuerza por salir adelante de esta manera mejorar su calidad de vida de toda su familia, con el dinero del crédito comprar insumos como arroz y fideo por mayor, la Sra. Sonia , al igual que sus compañeros del banco están muy agradecidos con nuestra entidad por haber confiado en ellos y brindarles un apoyo para poder crecer en su negocios y sus actividades.
Emprender has been working in Bolivia since 1999. It is dedicated to becoming a key tool in the development of its clients and the improvement of their quality of life. Operating in three of Bolivia’s major cities – La Paz, Cochabamba, and Santa Cruz – Emprender offers both urban and rural clients the opportunity to obtain financial products tailored to fit their needs and businesses. These products include housing loans, salary loans, “opportunity” (short-term) loans, and higher education loans. To better the quality of life for its clients and non-clients through non-financial services, Emprender offers free medical consultations and health classes given by trained doctors.
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.