A loan of $2,300 helped a member purchase of raw materials.

Communal Bank "gosalvez" Group's story

The communal bank GOSALVEZ began activities with twelve members. They live in the zone with the same name, Gosalvez, in the village of Nuevo Potosí which is an area located on the western slope of the city of La Paz. This hillside is characterized by having migrants from the high plains region. In this zone they are generally dedicated to commerce, services and also to production, and most of the members work along these lines.

The communal bank GOSALVEZ has worked with our institution for five cycles, having funded itself on January 10, 2007. Currently, the group consists of ten members with a management team as follows:

- President Catalina L.
- Treasurer Paulina M. Q.
- Secretary Sofia V. A.

It must be highlighted that the group works with great solidarity, companionship and responsability; they learned how to save within the organization, given that in our country it is very difficult because of the social and economic situation we are going through. The reasons that motivate them to work with this type of credit, as the women indicate, is that within the association they have a safe haven where they find motivation, fraternization, a space where they feel heard and can talk about their personal issues. They later leave feeling renewed and able to again face all of their problems.

Catalina L. Condori: Has as her primary activity sales from a store that is located in her home. She lives with her husband who earns his wages as a taxi driver. Since their family does not count on a fixed income, they have turned to loans from the institution and one of this woman’s dreams is to see her children become professionals. One of them is in sergeant’s school, and the other is still in secondary school.

Agustina M. Q.: Has as her primary activity the sale of lubricants and production of blankets in her own home. This woman, with effort and sacrifice, works together with her husband to support their four children. Thanks to the loan granted by the institution, she has been able to buy equipment for making blankets and that way increase her working capital.

Guillermo M. N.: Has his own business making footwear in his own home. His wife has as her primary activity food sales in the zone of Chijini. Despite the fact that they both work, their income wasn’t enough to be able to save. However, with the loan they were granted by the institution they were able to increase their capital and save for their children as they have hope to see them get ahead.

Paulina M. Q.: Mother of four children, she is an employee of a butcher’s shop. She earns a minimal wage which did not meet the family’s financial needs, which is why she decided to join her husband in making footwear to offer for sale. The loan granted by Emprender increased her working capital and, in turn, her production and income which simultaneously helped improve her economic situation.

Juana Sabina T. N.: Has as her principal activity the making and sale of jackets. Despite the fact that she is still a single young woman, she is in charge of caring for her parents and brothers and therefore finds herself as the head of household. Thanks to the loan granted her, she has managed to produce jackets for both men and women of different sizes. Before, she was lacking in raw materials which was a difficulty. One of her dreams is to one day have her own store and to be able to export her designs.

Sofia V. A.: Has as her principal activity the sale of undergarments and socks. Given that she does not count on a fixed wage, her income was not sufficient. She sought a loan to help her to increase and diversify her products. Her principal objective is to be able to save so she can buy her own plot of land.

Dominga N. A.: Dedicates herself to the sale of aprons, and finds herself in charge of supporting her five children. The only income with which the family can count on is hers, since the children are still in school. With the loan granted her, it has become a possibility that this woman might be able to buy her own stand and a stock of merchandise.

Teodora Q. Cayo: Has as her activity the fabrication and sale of footwear, and she also cares for her six children given that the father is in a rural area. It is for this reason that she assumed the expenses and responsibilities of the home. Her dream is to be able to have a store and increase her capital, in order to produce her shoes for men, women and children.

Flora R. M.: This woman has as her principal activity the sale of fruit. She has a large family, and their income is dependent on her. With the loan from the institution she has managed to increase her capital, and in that way purchase more seasonal products and improve the financial situation for herself and her children.

Irene C. M.: This woman works tending to a public restroom, and her husband earns his wages as a chauffer. The family’s income is minimal, and does not cover their basic needs. With her loan, she has managed to purchase gifts which she sells in various locales close to her work and in this way try to improve their very difficult economic situation.

In this group: Catalina, Agustina, Guillermo*, Paulina, Juana Sabina, Sofía, Dominga, Teodora*, Flora, Irene
*not pictured

Translated from Spanish by Kiva volunteer

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Loan details