The FLOR DE CANELA communal bank is comprised of eight members who are involved in different business activities. The president of the group is Filomena who is 42 years old and has three children, ages 24, 20 and 16 who attend school and the university. She sells wholesale and retail fabric in her shop which is located in the busy area of "16 de Julio" in the city of El Alto.
The loan will be used to buy wholesale fabric for her shop. Filomena is a hard-working person who has been in this business for many years. She is very grateful to the institution for the support she is receiving since this business is her only source of income for the family. She is also grateful for the help to other members of her group because many of them are heads of household.
El Banco de emprendimiento FLOR DE LA CANELA Está compuesto por ocho integrantes todas mujeres que se dedican a distintas actividades, la presidenta del banco es la señora Filomena tiene 42 años y tres hijos de las edades de 24, 20 y 16 años que se encuentran estudiando ya dos en la universidad y el ultimo en colegio, ella se dedica a la venta de telas al por mayor y menor en su tienda que se encuentra por la populosa zona de la 16 de Julio de la ciudad de El Alto, el destino del crédito es para la compra de telas al por mayor para surtir su tienda, la señora Filomena es una persona muy trabajadora lleva años en esta actividad está muy agradecida con la institución por el apoyo brindado a ella ya que esta es la única actividad con la que mantiene a su familia y también agradecida por la ayuda a sus compañeras de grupo ya que en muchos casos mantienen solas a sus familias.
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.
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.