Total loan: $4,500
Las Serpentinas Group
, , Bolivia / Food
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Las Serpentinas Group's story
The “Las Serpentinas” communal bank was formed by 15 associates. Lucy is their president and the members meet at her home at 5:30 pm. Attendance is required. Lucy, who is the most prominent member, has a store where she’s been selling liquor and a few grocery items for the past three years. The rest of the members of the group do different things, such as selling “empanadas,” selling hamburgers, one is a businessman, others sell bread, and balanced food items, one member works as a mason, one drives a taxi, another lives from the rent he receives for his vehicle, three of the ladies sell vegetables, and one lady sells cosmetics. Even though there is competition, there is still a demand and their developed businesses allow them to earn incomes from regular customers, whom they count on. Lucy will use the money from this loan to stock her store, while the others will use it to proviD. working capital for their businesses. “Las Serpentinas” have prior experience with loans and with working under a communal banking system, as some of the members have worked with other communal banks. As the photograph shows, none of the men were at the first meeting so they were represented by their wives.
Translated from Spanish by Hugo Reyes, Kiva Volunteer