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Nuevo Horizonte Group
In this Group: Rosa , María , Etelvina, Silvia, José, Pedro, Nancy, Aurora, Sandra , Gladys, Nora, Marcela, Roberto , Pamela, Solange, Teresa, Luz
The communal bank “Nuevo Horizonte” consists of 17 associates from the city of Temuco. These individuals have diverse livelihoods. Some sell things like vegetables, sausages, and salads; others sell new and second-hand clothing items.There is an owner of a local grocery store, a clerk, and a hairstylist. Still others produce and sell things like pastries and apparel.

Rosa is the treasurer of the group. In the photo Rosa can be found in the third row and third form left to right wearing a red jacket and her hair is loose. Rosa’s business is of apparel of various items, for example formal clothing and sport outfits, costumes and curtains, and other things. Rosa studied hemming and costumes for three years and she has made it her profession for the past 25 years. Rosa´s workshop is located in her house, where she counts on three machines and works on set orders from clients. Rosa plans to use this loan to generate more items such as the traditional Chilean outfit of a huaso y huasa chileno, being that September is the month when Chile hosts various patriotic parties. Rosa also plans to purchase some fabric to fabricate polar shirts, as she has already collected some orders for this type of material.

Rosa´s goal is to purchase a sewing machine that does intrinsic borders; she also dreams of one day extending out her workshop. Rosa´s motivation stems from gaining enough earnings to provide for her 12 year old son now and in the future when he decides to continue his studies.

The aspect that Rosa enjoys about working with Fondo Esperanza is the great help that she has received from her fellow group members and loan officer, also learning about money management skills.

Temuco is the capital of the Araucanía region. It is located 670 kilometres south of Santiago (the capital of Chile) and possesses a series of lake-side spa resorts and striking native flora and fauna. This region is also noteworthy for being the place where 50% of Chile's existing indigenous Mapuche community live; some of whom are members of Fondo Esperanza communal banks.

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
  • 501.0
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of Nuevo Horizonte Group's $2,925 loan helped a member purchasing fabric to make clothing.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Aug 4, 2010
Sep 3, 2010
Currency Exchange Loss:
Dec 15, 2010