The communal bank "PARAISO NUEVO" ["New Paradise"] is made up of eight members, all of them women. The bank's president is Ruth, who is 29 years old and married. She has two children, aged 11 and 2. She works selling food in the community of Zanja Honda, This is her first loan cycle with the institution. Ruth will use this loan to invest in buying ingredients on a wholesale basis to prepare her foods, such as rice, noodles, potatoes and cooking oil. Her reason for requesting this loan is a lack of capital. Ruth will use the profits to continue buying ingredients to prepare her foods. Ruth is a very hard-working person. She feels happy and grateful to the institution for the support provided, since this is the only work she has to support herself.
El Banco de emprendimiento PARAISO NUEVO está compuesto por ocho integrantes todas mujeres, la presidenta del banco es la Sra. Ruth tiene 29 años casada tiene 2 hijos que tiene la edad de 11 y 2 años, ella se dedica a la venta de comida en la localidad de Zanja Honda, Este préstamo es su primera secuencia dentro de la institución la Sra. Ruth va a usar este préstamo para Invertir en la compra de insumos para la elaboración de sus comidas, como arroz, fideo, papa y aceite por mayor Su razón para solicitar este préstamo por la falta de capital, la Sra. Ruth va a utilizar los beneficios en seguir comprando insumos, para la elaboración de sus comidas, la Sra. Ruth es una persona muy trabajadora se siente feliz y agradecida con la institución por el apoyo brindado ya que esta es la única actividad que le permite 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.