Eighteen women make up the group “Nuevo Corazon.” They work in the German Buch focal center located in the Huayna Potosi zone in the city of El Alto. They have diverse businesses such as selling soft drinks and making lunches but a common business for all is making clothing (shirts, blouses, dresses). After the clothing is made, they sell it in stalls they have in the “Ceja” of El Alto. They need capital to purchase special machinery to increase their production. They are certain that with this investment they will generate greater income with which they will be able to repay their loans and maintain the economic equilibrium of their homes.
18 mujeres conforman la asociación “Nuevo Corazón” que trabaja en el centro focal de Germán Buch ubicada en la zona de Huayna Potosí de la ciudad de El Alto. Ellas tienen diversas actividades, venden refrescos, elaboran almuerzos, pero una actividad común entre ellas es la confección de ropa ligera (blusas, camisas, vestido) luego de su confección la venden en puestos fijos que tienen el la Ceja de El alto. Necesitan capital para la compra de maquinaria especial, para poder aumentar su producción, están seguras que con esta inversión, generaran mayores ingresos, con lo que podrán responder a sus créditos y mantener equilibrio económico en sus hogares.
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.