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33-Villa Olmos Group
In this Group: Manuel Jorge, Sofia, Flores Eufronia, Emiliana, Ivon, Nancy, Sandra Giovana, Marcelino

Update on 33-Villa Olmos Group

33-Villa Olmos Communal Bank is made up of eight members, six women and two men who earn their livings in a variety of jobs. This bank was restructured and few members remained, including Marcelino. He continues as the president of the bank because he's a responsible person. He works in the same job, making furniture in his shop. He says that the previous loan went well for him because he used it to buy work materials.

Now he's requesting a loan to buy wood to make furniture.

Marcelino's happy, and he's grateful for this new opportunity from the loan because he's growing in his business.
View original language description ↓
El Banco de emprendimiento 33-VILLA OLMOS está compuesto por ocho integrantes seis mujeres y dos varones, se dedican a distintas actividades, este banco se reestructuró quedando así pocos integrantes entre ellos el Sr. Marcelino quien sigue siendo el presidente del banco por ser una persona responsable, sigue con la misma actividad que es la fabricación de muebles en su carpintería, cuenta que con el anterior crédito le fue bien ya que lo utilizo en la compra de materiales para su actividad, ahora en esta ocasión solicita el crédito para la compra de madera, para la fabricación de muebles, el Sr. Marcelino se siente feliz y agradecido por esta nueva oportunidad que le brindan en la otorgación del crédito, ya que está creciendo en su actividad.

Previous Loan Details

The “33-Villa Olmos” communal bank has 8 members, five women and three men. The bank president is Marcelino, 52, who’s married and has three children whose ages are 23, 18 and 17; they are all attending university. He’s a carpenter and does all sorts of jobs with wood from spoons and ladles t... More from 33-Villa Olmos Group's previous loan »

Additional Information

About Emprender

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.

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.

About Bolivia

  • $2,817
    Average annual income
  • 105
    View loans »
    Bolivia Loans Fundraising
  • $29,134,625
    Funds lent in using Kiva
  • 7.0
    Bolivia Bolivianos (BOB) = $1 USD

Success!! The loan was 100% repaid

A portion of 33-Villa Olmos Group's $3,425 loan helped a member to buy wood.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 27, 2013
Listed
Jun 18, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 21, 2013