The WARA WARA communal bank is made up of nine members, eight women and one man. The president of the bank is Felicidad. She is 56 years old and works fishing and selling fish. Her husband is a fisherman and she sells the fish that her husband fishes in Lake Titicaca. They live in the Tiquina straits in a community close to Lake Titicaca in the department of La Paz. Most of the residents of this community work in fishing and tourism. This loan is her first cycle with the institution. Felicidad is going to use this loan to buy fishing nets. They will sell the product in the city of La Paz and with this net she wants to increase her production and thus satisfy her customers' demand. Felicidad is a person who wants to get ahead. She feels happy and grateful to the institution for the support it has offered, since this is the only source of income that they have to support themselves.
El Banco de emprendimiento WARA WARA está compuesto por nueve integrantes ocho mujeres y un varon, la presidenta del banco es la Sra. Felicidad tiene 56 años, ella se dedica a la pesca y venta de pescado su esposo es pescador y ella comercializa el pescado que su esposo pesca en el lago Titicaca, ellos viven en el estrecho de Tiquina una localidad cerca del lago Titicaca del departamento de La Paz, la mayoría de los habitantes de esta localidad se dedican a la pesca y el turismo, este préstamo es su primera secuencia dentro de la institución, la Sra. Felicidad va a usar este préstamo para la compra de redes para la pesca, el producto de su pesca lo venden en la ciudad de La Paz y con este red quiere incrementar su producción y así satisfacer la demandada de sus clientes, la Sra. Felicidad es una persona con ganas de superación se siente feliz y agradecida con la institución por el apoyo brindado ya que esta es la única fuente de ingresos que tienen para mantenerse.
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.