Pioneras - 26 Group
Update on Pioneras - 26 GroupThe PIONERAS - 26 communal bank is made up of eight members: six women and two men. The president of the bank is Víctor who is 57 years old and has children who are already adults and independent. He makes his living making and selling break. His bakery is located in the Villa Dolores area, he is a long-standing customer of the bank, having taken out previous credits always to improve the business.
Víctor will use the loan to buy supplies such as flour, butter and yeast to make bakery goods. Víctor is a person who is keen to improve and is happy and grateful to the bank for the support given as this is the only activity which allows his to support himself and his family. He is also happy and grateful to the bank for the help given to his fellow group members.
Previous Loan DetailsThe PIONERAS – 26 entrepreneur bank is made up of eight members; seven ladies and one gentleman. Ruth is the president. She is 43 years old and has two children, ages 12 and 18. She sells paper goods, school supplies, books, etc. She sells a variety of products depending on the season. Her s... More from Pioneras - 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.
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Success!! The loan was 100% repaid