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Dear Kiva Lender,

Kiva facilitates loans to more than 4,000 borrowers every week, but since 100% of money lent on Kiva goes to funding loans we rely on donations from supporters like you to continue this important work. If every Kiva lender seeing this banner pitched in $25 for our Donation Drive, we'd hit our goal of $600,000 by Dec 31! Thanks for your continuing partnership in making the world a fairer place.

In service, Premal Shah, President,

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Los Emprendedores Group
In this Group: Alida, Fabiola , Ricardo, María, Englantina, Alejandro , Pilar , Rossanna , Amalia , Myriam, Yanet, Lucía , Luisa, Cristían
“Los Emprendedores” is a communal bank formed by fourteen socios (borrowers) who reside in La Florida district. These individuals are primarily dedicated to their individual occupation: a seamstress, a baker, an artist (wood pieces), and a salesperson (sells CDs, socks and underwear).

Fabiola is the delegate of this group. In the photo she is found in the back row, second from the right, and is wearing a purple jacket. She bakes pastries, alfajores (a traditional Arabic confection) and various cookies and sells them in a stand that she has created in front of her house. She also distributes wholesale for other business to sell within the neighborhood. Fabiola learned how to make pastries from her father who was a bread-maker and pastry chef.

With this loan, Fabiola intends to purchase the principle ingredients needed to produce these goodies. Her dream is to one day open a pastry shop in a grand location and afterwards add to it a shop that will sell these ingredients for other to make them too.

Febiola lives with her husband and 7-year-old daughter. She enjoys participating in the weekly bank meetings along with the other socias (borrowers) and the loan officer. She credits Fondo Esperanza’s weekly bank meetings with enabling her to socialize with other entrepreneurs and learn from their experiences too.

La Florida is a community located to the southeast of Santiago (the capital of Chile). The community itself is quite diverse, representing all sectors of socioeconomic levels. This area has an active commercial life which is manifested in the existence of several new shopping centers. In recent years, this sector has experienced explosive growth.

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

  • $19,100
    Average annual income
  • 0
    View loans »
    Chile Loans Fundraising
  • $2,637,700
    Funds lent in using Kiva
  • 520.0
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of Los Emprendedores Group's $2,900 loan helped a member to buy more ingredients need to produce her pastries.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Jul 30, 2010
Aug 1, 2010
Currency Exchange Loss:
Dec 15, 2010