San Miguel Group
The average loan per member amounts to 868,750 guaraníes and will be used to finance different activities, such as selling vegetables and fruits, chipas (a typical dish in Paraguay; it is a bread product made from corn flour and starch and baked in an oven heated by firewood), etc.
The group members participate actively in their weekly meetings and are grateful to the microfinance institution Fundación Paraguaya. They are all busy with income generating activities and help each other to reach their common goals.
El promedio de crédito retirado por cada integrante es de 868.750 Gs., lo cual va destinado para diferentes actividades tales como venta de verduras y frutas, chipas (comida típica del país), etc.
Participan activamente en las reuniones semanales y están muy agradecidas con la Fundación Paraguaya.
Todas ellas realizan actividades para recaudar fondos, se ayudan mutuamente para llegar a los objetivos en común que todas tienen dentro del grupo.
About Fundación ParaguayaFundación 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.
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Success!! The loan was 100% repaid