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El Rey Group
In this Group: Verenise, Osvaldo, Juana, Adrian, Vania, Ivana, Jesus, Eduardo, Claudia, Andrea, Washington, Grimilda, Juan, Myriam, Maria, Maria, Cyntia, Cristina
This Communal Bank is called “El Rey”: it is made up of 18 entrepreneurs who work in retail, more specifically in the sale of clothes, fast food, street stall products, the sale of fruit and vegetables, and services among others. They all live in the municipality of Conchalí located in the city of Santiago.

Verenise, a member of the Communal Bank group, is standing in the front row in the photo and is the fourth from the right. She is wearing a black jacket and black trousers and has her hair tied up. She works as a convenience store vendor. She has been working in this field for 1 year and mentions that she works alone in her own home. Her working hours from Monday to Sunday are from 11am to 10pm. Verenise generally buys her goods in supermarkets and wholesalers, as they are the places in which she finds her goods at a low price, which makes it financially convenient.

With the loan, she will buy fries, drinks and different flavored sweets to stock her business. Her aims are to continue with the business, to generate more income, and with that achieve a better quality of life. Verenise lives with her mother and her siblings. She dreams of having a bakery in her own home.

Verenise is very pleased and grateful for the loan and services offered by Fondo Esperanza. Moreover, she says that she feels at ease with the communal bank's meetings and group as there is generosity and unity.

Conchalí is a municipality in the metropolitan region (where Santiago, the capital of Chile, is found) located to the north of the capital. It has an industrial district and several small economic and commercial activities, including fairs, craft workshops, car parking and bus terminals among others. The microenterprise sector plays a very important part in its commercial activity.
View original language description ↓
Este Banco Comunal se llama “El Rey” está conformado por 18 emprendedores que se dedican al rubro del comercio, específicamente venta de ropa, venta de comida rápida, feriantes, venta de frutas y verduras, servicios entre otros. Todos ellos pertenecientes a la comuna de Conchalí ubicada en la ciudad de Santiago.
Verenise integrante del grupo del Banco Comunal, quien en la foto se encuentra de pie en primera fila ocupando el cuarto lugar de derecha a izquierda, usa una chaqueta de color negra, pantalones negros, su cabello lo usa tomado.
Ella se dedica al rubro del comercio venta de bazar. Se desempeña en este rubro desde hace 1 año, comenta que trabaja sola en su propia casa, su horario de trabajo es de lunes a domingo desde las 11ºº hasta las 22ºº horas.
Su mercadería la compra generalmente en supermercados y distribuidoras, ya que son lugares en los cuales encuentra su mercadería a bajo costo, por lo tanto conveniente económicamente.
Con el crédito comprará papas fritas, bebidas, dulces de diferentes sabores para abastecer su negocio.
Sus metas son continuar con el negocio, para generar mayores ingresos, así con esto optar a una mejor calidad de vida.,
Verenise vive junto a su madre y sus hermanas. Sus sueños son tener una panadería establecida en su propia casa.
Verenise está muy contenta y agradecida del crédito y servicios otorgados por Fondo Esperanza. Además comenta que se siente muy cómoda con las reuniones y grupo del Banco Comunal, ya que existe generosidad y unidad.
Conchalí es una comuna de la región metropolitana (donde está Santiago, capital de Chile) ubicada hacia el norte de la misma. Posee un barrio industrial delimitado, y múltiples actividades económicas y comerciales de pequeño tamaño, incluyendo ferias libres, talleres artesanales, garajes, terminales de buses, entre otros. El sector microempresarial es muy relevante en su actividad comercial.

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
  • 501.9
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of El Rey Group's $6,650 loan helped a member to buy fries, drinks and different flavored sweets to stock their business.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Jun 7, 2012
Jun 17, 2012
Currency Exchange Loss:
Oct 15, 2012