The “Calicanto III” communal bank has ten members, 8 women and 2 men. The bank president is Faviola, 27. She has three school age children. Faviola’s a very enterprising woman who started working at the age of 7 helping her mother sell refreshments. In time, she took over her mother’s business selling ‘api’ [traditional beverage made from purple corn] with cake and or fried flour tortilla. Faviola has a stand in the city of Cochabamba’s Christmas street fair where she earns extra income. She lives in her mother’s house and helps with family expenses. The loan she’s requesting is to buy ingredients like sugar and white and purple corn flour, used in making api. Faviola feels happy and grateful to the institution for the support provided to her and her entire group because they are people that work hard in order to get ahead.
El Banco de emprendimiento CALICANTO III está compuesto por diez integrantes ocho mujeres y dos varones, la presidenta del banco es la Sra. Faviola tiene 27 años y tres hijos que se encuentran en edad escolar, la Sra. Faviola es una persona muy emprendedora que desde sus siete años comenzó a trabajar ayudando a su mamá en la venta de refrescos, con el tiempo se hizo cargo del negocio de su mamá vendiendo api con pastel y/o con buñuelo, la Sra. Faviola tiene un puesto en la feria de navidad en la ciudad de Cochabamba donde tiene ingresos adicionales, , vive en casa de su mamá y le ayuda en los gastos familiares, el crédito que solicita es para la compra de insumos para la elaboración de sus Apis como azúcar y harina de maíz blanca y morada, la Sra. Faviola se siente feliz y agradecida con la institución por el apoyo brindado a ella y todo su grupo ya que son personas que trabajan duro para salir adelante.
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.