The “Flor de Canela” association is comprised of 15 women eager to improve their small businesses. They meet every two weeks in the center of Villa Adela, located on Bolivia Avenue in the city of El Alto. The group’s activities are diverse, some making handcrafted knits, others make clothing and also dedicate themselves to preparing and selling food. Lucrecia, for example, makes beef and pork sausages.
They all affirm that they need the loans to expand their enterprises, with the assurance of making more sales and therefore earning a better income for their families.
La asociación Flor de Canela esta formada por 15 mujeres ansiosas de mejorar en sus pequeños negocios, se reúnen cada dos semanas, en el centro focal Villa Adela ubicado en la avenida Bolivia de la ciudad de El Alto. Diversas son las actividades de este grupo, algunas realizan tejidos artesanales; otras confeccionan y arreglan prendas de vestir, también se dedican a la elaboración y venta de alimentos, Lucrecia por ejemplo elabora embutidos de carne de vaca y cerdo.
Todas ellas afirman que necesitan de créditos para ampliar sus negocios, con la seguridad de obtener mayores ventas y de este modo obtener mejores ingresos para sus familias.
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.