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Luz De Los Rios Group
In this Group: Maria, Maria, Yessica, Yohana, Veronica, Gullermo, Rosalia, Maria, Ariela, Ilce, Mercedes , Alejandra, Carmen, Paola, Monica, Daniela, Evelin, Oriana , Lorna
This communal bank is called “Luz de los Ríos” (Light of the Rivers) and it’s composed of 19 entrepreneurs who are in a variety of lines of work among which are found lingerie, sewing, crafts, fruit sales, fish store and services, among others. All of them are from the city of Valdivia.

María, communal bank president, is located in the rear of the group occupying the third spot from right to left. She’s wearing her hair loose and she's wearing large hoop earrings and a gray shirt. She’s been working as a baker for 15 years. She comments that she rents a commercial locale from her mother who is a house owner. She prepares her baked goods in an artisan way; she uses her hands.

Her work schedule is Monday to Sunday from 11am on with no specific closing time. Her clientele is regular despite the competition she has around her. She buys the ingredients she uses usually in supermarkets and from wholesalers. She will use the loan to buy various ingredients for her bakery. Her goal is to be able to buy machinery to make her daily work routine easier.

She currently lives with her construction worker husband and nine year old daughter. Her dream is to be able to finish studying computer science.
She’s very happy and grateful for the opportunity Fondo Esperanza is giving her to invest in her business. She also feels very comfortable in the group she participates in because there is respect and trust.

Valdivia is a city in south Chile located in the Los Ríos region. It stands out for having one of Chile’s few navigable rivers, the Calle-Calle. Among
Valdivia’s main economic activities is naval construction, saw mills, paper mills and cellulose (Celco), breweries and flour mills. Tourism also plays an important part as well as university educational services headed by the Universidad Austral de Chile.
View original language description ↓
Este Banco Comunal se llama “Luz de los Ríos”, esta conformado por 19 emprendedores quienes se dedican a diferentes rubros, entre los cuales se encuentran lencería, confección, artesanía, ventas de frutas, pescadería, servicios entre otros. Todos ellos pertenecientes a la ciudad de Valdivia.
Maria, presidenta del grupo del Banco comunal, quien se encuentra al fondo del grupo, ocupando el tercer lugar de derecha a izquierda. Su cabello lo usa suelto, además usa aros grandes y viste con un poleron gris.
Ella se dedica al rubro de la amasandería desde hace 15 años. Comenta que arrienda local comercial de su madre, quien es dueña de casa.
Ella prepara sus productos de amasandería en forma artesanal, ocupando sus manos.
Su horario de trabajo es de lunes a domingo desde la 11 ° ° AM sin horario específico de cierre. Su clientela es fija a pesar de la competencia que tiene en su entorno.
Su mercadería que utiliza la compra generalmente en supermercados y mayoristas.
Con el crédito comprara insumos varios para su panadería.
Sus metas son poder comprar maquinarias para facilitar su rutina diaria de trabajo.
Actualmente vive con su esposo trabajador obrero de construcción e hija pequeña de 9 años de edad. Sus sueños son poder terminar de estudiar computación.
Ella esta muy contenta y agradecida de la oportunidad que le ha brindado Fondo Esperanza para invertir en su negocio. Además se siente muy cómoda con el grupo que participa, ya que existe respeto y confianza.
Valdivia es una ciudad del sur de Chile, ubicada en la región de Los Ríos. Se destaca por tener uno de los pocos ríos navegables de Chile, el Calle Calle. Valdivia presenta, dentro de sus principales actividades económicas, la industria de la construcción naval, maderera, papelera, celulosa (Celco),
Cervecera y molinera. El turismo desempeña un papel importante, como también los servicios educacionales universitarios, encabezados por la Universidad Austral de Chile.

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
  • $2,637,700
    Funds lent in using Kiva
  • 484.5
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of Luz De Los Rios Group's $3,875 loan helped a member to buy ingredients for her bakery.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 2, 2012
Listed
May 9, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 15, 2012