Five years ago 16 women formed the group "Primavera II" and they were convinced that working for themselves could help them to improve their quality of life. The majority of the women live in the Villa Tejada neighborhood in the city of El Altos. They make livings by doing a variety of activities which include, selling CD's, vegetables, fruits, writing materials, cosmetics. Others make a living by making "polleras" (these are a long skirt worn by the women in some areas of Bolivia). The Primavera II say that the constant increase of the prices of basic needs items causes hardship in their homes. Therefore, they need loans to buy products in bulk and at wholesale prices so that they can help to grow their business and increase their profits.
(Translated by Alexis of San Roque High School)
Hace mas de cinco años, dieciséis mujeres conforman la asociación “Primavera II”, están convencidas que con una actividad propia pueden mejorar su calidad de vida. La mayoría de ellas viven en la zona Villa Tejada, de la ciudad de El Alto. Diversas son las actividades de este grupo, venden; CDs, verduras, frutas, material de escritorio, cosméticos, otras también realizan confección de polleras (Una pollera es una falda larga usada como vestimenta femenina, típica en algunas regiones de Bolivia). La asociación Primavera II, afirman que la constante elevación de precios en artículos de primera necesidad causo desequilibrio económico en sus hogares, por lo que necesitan créditos para comprar mayor cantidad de productos, para ampliar sus negocios y poder obtener mayores ganancias.
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.