Check out some available loans that are similar to this one!
Jm Bari Group
In this Group: Soledad , Camila , Luis , Guillermina , Silvia , Daniela , Paula, Carolina , Patricia , María Magdalena , Teresa , Marcia , María Elizabeth
This communal bank is called JM Bari and it is made up of 13 members from the city of Linares. They work in arts and crafts businesses such as crafting of dolls made of wood, straw, and cloth, and also sales of vegetables, gold and silver jewelry, lingerie, books, and miscellaneous goods.

The interviewed member was Soledad, who is the president (in the photo, she is on the left in the 2nd row, wearing the purple sweatshirt). She sells natural perfumes, Indian-style clothing, candles, and handmade earrings. She will invest this loan in merchandise, such as colognes and perfumes.

Soledad says that after the earthquake catastrophe of February 27, her goals are to maintain her business and continue supporting her daughter. Her daughter is in the second year of university and is also a member of JM Bari. She makes jewelry of wood and horsehair. But Soledad says that most of all she wants to enjoy life with her loved ones.

Soledad also states that she is happy working with Fondo Esperanza because they value the dedication of their members. She also feels that the education courses in entrepreneurship they have given have motivated her greatly.

Linares is an important urban center in the Maule region in the center of Chile. This region produces much wine for export. In spite of the fact that the workforce has increased, the region continues to be, according to the last census, one of the poorest in the country. As a result of the earthquake, one of the group members lost a great part of her merchandise.
View original language description ↓
Este banco comunal es llamado JM Bari y está conformado por 13 socios de la ciudad de Linares. Ellos se dedican principalmente a negocios de artesanía, tales como la confección de muñecas de madera, paja y género, verdulería, venta de joyas de plata y oro, venta de lencería, librería, paquetería y bazar.
La socia entrevistada fue Soledad, quien es la presidenta de este banco comunal, quien en la foto se encuentra a la izquierda, en 2º fila y viste polerón morado. Ella vende perfumes alternativos, ropa hindú, velas y aros artesanales, en una galería ubicada en el centro de la ciudad, al igual que la mayoría de sus compañeros. Soledad invertirá este préstamo en mercadería para su negocio, como por ejemplo aguas de colonia y perfumes. Comenta que después de la catástrofe del terremoto del recién pasado 27 de febrero, sus metas principalmente son mantener su negocio, para seguir apoyando a su hija que estudia en 2º año de universidad, también miembro de JM Bari y quien es artesana en joyas de madera y crin (pelo de caballo). Pero lo que más quiere es disfrutar más la vida junto a sus seres queridos. También comenta que se siente muy contenta de trabajar con Fondo Esperanza ya que valora la dedicación que este le brinda a sus socios. También siente que los cursos de educación emprendedora que les imparten le ha motivado en gran manera a la responsabilidad frente a su negocio.
Linares es un importante centro urbano de la región del Maule, ubicado en la zona centro del país. En esta región se desarrolla de manera importante la producción vitivinícola sobresaliendo en el ámbito de las exportaciones. A pesar que la fuerza de trabajo se ha incrementado, esta región sigue siendo, según el último censo, una de las más pobres del país. Como efecto del terremoto, una de las socias de este banco comunal perdió gran parte de su mercadería.

Additional Information

About Fondo Esperanza

Fondo Esperanza (FE) is a private non-profit organization that supports entrepreneurship by providing micro-credit and training to people living in poverty in well over 100 cities throughout Chile. By providing these services, FE aims to improve the living conditions of the entrepreneurs and their families. In 2010, FE provided loans to more than 41,000 entrepreneurs. It utilizes a communal banking model in which groups of 18 to 25 clients meet on regularly and guarantee each other’s loans. The members use their portion of the loan to create or expand their own businesses. In the group meetings, clients receive training though the FE Entrepreneurship School, which enhances clients’ personal and business skills and ability to work in groups.

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.

About Chile

  • $14,900
    Average annual income
  • 0
    View loans »
    Chile Loans Fundraising
  • $2,587,775
    Funds lent in using Kiva
  • 527.2
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of Jm Bari Group's $1,975 loan helped a member merchandise, such as colognes and perfumes.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 26, 2010
Listed
Mar 13, 2010
Currency Exchange Loss:
Possible
Ended:
Jul 15, 2010