The Communal Bank “Fe Y Alegria” (Faith and Joy) consists of eight members, all women. The bank president is Sra. Brenda, who is 29 years old and has three children (ages 9, 6, and 2). She sells snacks and sandwiches from a vending stall in the town of Pedro Lorenzo. Sra. Brenda wakes up in the early morning hours so that she can prepare sandwiches, as well as lunches for her family. Afterwards she sells everything throughout the morning.
Sra. Brenda will use the money from her loan to buy supplies such as noodles and potatoes for preparing her snacks. She is a responsible and hardworking person who is grateful to Emprender for the financial support she has received. This has enabled her to have a better quality of life and to continue succeeding for the welfare of her family.
El Banco de emprendimiento FE Y ALEGRIA, Está compuesto por ocho integrantes todas mujeres, la presidenta del banco es la Sra. Brenda tiene 29 años y tres hijos de las edades de 9, 6 y 2 años, su actividad es la venta de refrigerios y sándwich en su puesto d venta que se encuentra en la localidad de Pedro Lorenzo, la Sra. Brenda se levanta desde tempranas horas de la mañana para elaborar sus sándwich y también para prepara el almuerzo para su familia, después sale a vender todo esto por la mañana, con el dinero del crédito la Sra. Brenda comprara insumos como fideo, papa para la elaboración de sus refrigerios, Sra. Brenda es una persona responsable y trabajadora esta agradecida con la institución por el apoyo económico que le brinda para tener una mejor calidad de vida y seguir adelante superándose por el bienestar de su familia.
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.