The Alto Obrajes communal bank was founded in the area of the same name and is composed of 8 members who live there. They founded their association with the goal of being able to grow their businesses and, in some cases, to start a new one. That is the case for Isidora, who makes handcrafts out of wool and colored thread. She sells them in the center of the city. With the money from the loan, she will buy wool and thread for her work. She lives with her two children, who are still school-aged, which means she needs to work twice as hard to move her family forward. All of the members of the association are very thankful for the collaboration and the confidence shown them, and they are therefore very sure to meet their repayment schedule.
El banco de emprendimiento alto obrajes se fundo en la zona que lleva el mismo nombre, esta compuesto por 8 socias que viven en la misma zona. Ellas fundaron su asociación con la finalidad de poder crecer en sus negocios y en algunos casos abrir un negocio nuevo. Tal es el caso de la Sra. Isidora que se dedica a realizar artesanías de lana e hilo de colores los cuales vende en el centro de la ciudad, con el dinero del crédito comprara lanas e hilos para realizar sus trabajo. Ella vive con sus dos hijos los cuales aun están en etapa escolar por lo que ella debe esforzarse el doble para poder sacar a su familia adelante. Todos los integrantes de la asociación están muy agradecidos con la colaboración y la confianza que se les deposita por lo que están muy seguros de cumplir con sus cuotas.
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.