The “21 de mayo” (May 21st) group is based in the Villa Tejada neighbourhood of the city of El Alto. This group has been working in conjunction with Pro-Mujer for more than 4 years. The members of the group tell us that they lack money to pay for their household expenses and the rent for their businesses as they have large families. Most of the members own neighbourhood store which offer a variety of products. They are highly motivated to improve their sales by buying a variety of products in bulk, thereby generating greater profits which will allow them to buy their own homes.
La asociación “21 de mayo” pertenece al centro focal Villa Tejada ubicada en la ciudad de El Alto. Dicho grupo trabaja junto a Pro-Mujer hace más de cuatro años. Afirman que el dinero no les alcanza para los gastos domésticos diarios y gastos de alquiler ya que cuentan con numerosas familias. La mayoría de ellas tiene tiendas de barrio donde ofrecen variedad de productos. Con el mayor entusiasmo quieren mejorar sus ventas comprando variedad de productos por cajas, de esta manera generar mayores ganancias que les permita ahorrar para poder comprar una casa propia.
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.