San Cristobal - 26 Group
Update on San Cristobal - 26 GroupThe communal bank San Cristobal-26 is made up of 9 members: 6 women and 3 men. The president of the bank is Florentina. She is 48 years old and makes small cakes and pastries. She will use the money from the loan to buy flour and butter to make her pastries. She sells her products at different stands. Her dream is to be able to eventually open a bakery so that she can offer her products to her customers, since many who know her buy her products because they are delicious.
Florentina is a very hardworking person. She is happy for the opportunity given to her and the members of the group, since many of them are the sole breadwinners of their families.
Previous Loan DetailsThe Enterprising Bank of San Cristobal-26 is comprised of nine members, six are female and three are male. The president of the bank is Adelia she is 29 years old and is married with a 4-year-old child. She lives in the area of San Cristóbal. Adelia owns a store in the area where she lives selling… More from San Cristobal - 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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