The Naciones Unidas (United Nations) group bank consists of 12 women and 2 men from the Munaypata zone of El Alto, Bolivia. The group members are involved in various businesses, some selling athletic wear, sweets, or clothing, others sewing and embroidering clothing or operating neighborhood stores. Most plan to use their Kiva loan to purchase more materials for their businesses.
The group is in its third loan cycle and is incorporating a few new members, all with the same commitment to work evident in those who founded the group. In Naciones Unidas' first meeting of this loan cycle, president Eva C. S. emphasized certain group qualities that should be taken very seriously, including punctuality, responsibility, and above all, the camaraderie that must exist within the group, which meets at Sra. C.'s house.
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.