This committee is based in the Empalado Ari neighborhood in the city of Caaguazú. Juana Sisinia B., who discovered the program through her neighbor, is the president of another group, and as she sensed significant interest in her neighborhood she decided to form a group to participate in the Women Entrepreneurs Program. The group is comprised of 24 hardworking women who want to get ahead in life. They have formed this group to support each other in their work. Nevertheless the women work independently selling clothing, shoes and food. They will receive loans of the following amounts: 1,000,000 gs, 800,000 gs, 600,000 gs, 500,000 gs and 300,000 gs to invest in their businesses. They all hope to support their family with this loan from Fundación Paraguaya.
About Fundación Paraguaya
Fundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
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.