The Concordia community bank consists of nine members - seven women and two men. The bank president is María, a 46-year-old married mother of five children who are all full-grown. She makes a living selling food, which she does every day from a sales post on one of the busiest streets in the city of Cochabamba, preparing and offering her customers a variety of dishes. She says that the work is the main source of income for her and her family, which along with an employee helps prepare the food and tend to customers. She plans to use the loan to purchase wholesale ingredients (potatoes, rice, noodles and other items) so she has a full pantry. María is a very hard working person who has years of experience selling food and is very grateful for the support being provided to her and her fellow bank members, since many of them are the sole providers for their families.
El Banco de emprendimiento CONCORDIA Está compuesto por nueve integrantes siete mujeres y dos varones, la presidenta del banco es la Sra. María tiene 46 años casada con cinco que ya son independientes, ella se dedica a la venta de comida, actividad que realiza todos los días en su puesto de venta que se encuentra en una de las calles Más concurridas de la ciudad de Cochabamba preparando y ofreciendo a su clientela platos variados, La mencionada actividad es su principal fuente de ingreso para ella y su familia la misma que desarrolla conjuntamente con una empleada quien le ayuda a preparar y también atender a sus clientes, el destino del crédito es para la compra por mayor de insumos (papa, arroz, fideo y otros) para lograr tener una despensa llena, la Sra. María es una persona muy trabajadora lleva años en esta actividad de la venta de comida está muy agradecida con la institución por el apoyo brindado a ella y a sus compañeras de grupo ya que en muchos casos mantienen solas a su 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.