The ARCO IRIS II community bank has eight members: seven women and one man. The bank's president is Elena. She lives in Bolívar district, is 28 years old, and has two school-age children. Elena's business is selling cosmetics as an itinerant vendor, visiting houses and offices. This loan is her first from the institution. She will use it to buy cosmetics wholesale so that she can increase her working capital. Her reason for requesting the loan is so that she can continue expanding her business. Elena will use the profits that she makes to continue buying merchandise and thereby improve her income. Her wish for her business is to have a wide range of beauty products to sell to her customers. Elena is a very hard-working person. She feels happy for the opportunity that she and her fellow group members are receiving because, in some cases, they are supporting their families alone.
El Banco de emprendimiento ARCO IRIS II está compuesto por ocho integrantes siete mujeres y un varón la presidenta del banco es la Sra. Elena , vive por la zona de Bolívar, ella tiene 28 años y dos hijos todos ellos en edad escolar, La Sra. Elena se dedica a la venta de cosméticos de manera ambulante visitando casas y oficinas, este préstamo es su primera secuencia dentro de la institución, la Sra. Elena va a usar este préstamo para compra de cosméticos por mayor y así de esta manera incrementar su capital de trabajo, su razón para solicitar este préstamo es seguir ampliando su negocio, la Sra. Elena va a utilizar los beneficios para seguir comprando mercadería y así mejorando sus ingresos, su deseo para su negocio es tener una amplia gama de productos de belleza para ofertar a su clientela. La Sra. Elena es una persona muy trabajadora se siente feliz por la oportunidad brindada a ella ya sus compañeras de grupo ya que en algunos casos mantienen solas a sus familias.
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.