The Las Puntuales (Punctual Women) group is maD. up of 11 women and 2 men who live in the tropical Santa Cruz region of eastern Bolivia. All of the group members live in the same neighborhood and know each another well; they are committed to guaranteeing one another's loans and to making their repayments on time.
Each of the group members has his or her own business: some sell clothing, cosmetics, party favors, appliances, beef, and coca leaves; others are tailors and seamstresses. Most have between one and five years of experience in their respective businesses, though Rosmery has been selling party supplies for 40 years!
Most of the group plans to use their Kiva loan to buy more merchandise to sell. Most group members have previous experience with group loans at other Bolivian microfinance institutions.
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.