Gabriela is part of the communal bank “Peulla Brotes Nuevos” and resides in the city of Viña del Mar. She is a mother of three children, but only the youngest, a 17 year old, lives with her. Gabriela sells used clothing, primarily jeans, at two local street fairs; she has sold at one of the fairs for the past 15 years and at the other for one year. She works four days a week, including the weekends, from 8am to 5pm.
With this loan, Gabriela will purchase jeans and pearl beads to make jewelry. Gabriela dreams of furthering her business, depending on more space and merchandise. She is motivated to own her own house, as she currently lives with loved ones, and feels that her quality of life would benefit if she had her own house.
Gabriela says Kiva partner, Fondo Esperanza, gave her the opportunity to succeed and "take a big step forward”, and that it’s a blessing that it lent a hand to make her business grow. Gabriela now sees improved earnings, and the results of her efforts.
Viña del Mar is a city and community located in the central coastal region of Chile, known as the "Garden City" because of its beautiful parks and gardens. The city is in the Valparaíso region, known for its temperate climate. This region is known as the tourist capital of Chile.
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.