Communal Bank LAS ELEGIDAS - 32 is comprised of eight members: seven women and one man, who all make a living from different activities. The president of the bank is Arminda who is 31 years old and who has two children ages 5 and 3. She works selling a variety of curtains and curtain hooks in her retail post which is at one of the most popular markets in the city of Cochabamba. This is her first loan series at the institution. Arminda will use this loan to buy wholesale curtains and that way stock her retail post and offer a variety of products to her clients. Because the end of the year season has more demand, she wants to take advantage so that she may also be able to generate more earnings because Christmas also has a lot of household expenses like buying gifts and clothing for her little children.
El Banco de emprendimiento LAS ELEGIDAS - 32 está compuesto por ocho integrantes siete mujeres y un varón, todos ellos se dedican a distintas actividades, la presidenta del banco es la Sra. Arminda tiene 31 años y tiene dos hijos de la edad de 5 y 3 años, ella se dedica a la venta de variedad de cortinas, agarradores de cortinas en su puesto de venta que se encuentra en una de las ferias más concurridas de la ciudad de Cochabamba, este préstamo es su primera secuencia dentro de la institución, la Sra. Arminda va a usar este préstamo para la compra de Cortinas al por mayor y de esta manera surtir su puesto de venta y brindar variedad de productos a sus clientes, ya que esta época de fin de año es donde tiene más demanda y ella quiere aprovechar para así también generar mayores ingresos ya que por Navidad también tiene muchos gastos en su casa comprando regalos y ropa para sus hijitos.
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.