Amigas Por Siempre - 26 Group
Update on Amigas Por Siempre - 26 GroupThe AMIGAS POR SIEMPRE – 26 communal bank is made up of eight members, five women and three men. THey work in different activities. The president of the bank is Lupe. She is 28. She has two children who are school aged. She has worked making clothing for several years. She makes work clothes and overalls. Her workshop is in her house. located in the Achachicala area. Lupe is going to use this loan to buy fabric wholesale to make clothing. Her reason for asking for this loan is to increase her investment capital, since she has contracts with businesses to which she delivers the finished product. She also delivers to different markets where they sell work clothes. Lupe faces challenges in her business, such as increasing her income. She is going to use her profits to invest in buying sewing materials to make good quality clothing and thus have more orders from her customers. Lupe is a very hardworking person who is happy and grateful to the institution for the support it has given.
Previous Loan DetailsCommunal bank AMIGAS POR SIEMPRE – 26 is made up of eight members, five female and three male, that make a living through various activities. The bank's president is Ana. She is 28, has two school-aged children and sells catalogue cosmetics. She does this in an itinerant way, offering her products… More from Amigas Por Siempre - 26 Group's previous loan »
About EmprenderEmprender 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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.
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Success!! The loan was 100% repaid
- Repayment Term
- 12 months (Additional Information)
- Repayment Schedule
- Apr 10, 2013
- Apr 20, 2013
- Currency Exchange Loss:
- Mar 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.