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Cascada De Esperanza Group
In this Group: Edith, Paula, Marcela, Oriana, Alejandra, Orietta, Viviana, Paulina, Gladys, Ximena, Gonzalo, David, Monica, Myriam, Gladys, Rossana, Luis, Nicole, Juan, Julio, Maria, Maria, Oscar, Katherine, Victor, Paula, Isabel, Maria, Michels
This communal bank is called “Cascada de Esperanza” (Cascade of Hope) and it has 29 entrepreneurs who are in different lines of work among which are street market merchants, furniture makers, street merchants, massages, jewelry, textiles, perfume sales, turnover sales and services, among others. All are from the city of Valparaíso.

A communal bank member, Edith, appears in the photo seated in the front row first from right to left wearing jeans, a white shirt and over it a light brown jacket; her hair is long, light brown and she wears it loose.

She’s been selling used clothes for the last four months in street markets on Tuesdays, Wednesdays, Thursdays and Sundays from 8am until 6pm. When she can’t work in the street markets because of the weather, she sells chocolates, sesame cookies and ‘chuchuflis’ [traditional Chilean chocolate-covered sweet] from house to house.

Merchandise she needs she buys in the city of Viña del Mar. She buys the clothes in warehouses and low-cost clothing stores which is an economic advantage. She will use the loan to buy a car to transport her merchandise, bundles of clothes, tent, hangers and some materials for the chocolates.

One of Edith’s goals is to make her business quite attractive so that her clientele will be able to see her merchandise more comfortably and that it looks different than how it looked at the beginning when she didn’t have much clientele.

Edith lives with her four children who are 22, 17, 12 and 9 years of age. She comments that she’s raised her children alone and has all of them in school so that they will be able to have a different life. Her dream at the family level is to finish some of the details in her house like the floor, and the closets in her children’s bedrooms.

She is very happy and grateful for the opportunity Fondo Esperanza is giving her because it will allow her to invest in her business. She comments that the training has been fundamental for her business and for her personal development too because she’s learned how to organize and better allocate her income and loans.

Valparaíso is located 120 kilometers northeast of Santiago. It’s the regional capital and also the seat of the country’s legislative power. It is the nation’s main port and offers a variety of beautiful, picturesque places to visit like the home of Nobel Prize laureate, the poet Pablo Neruda.
View original language description ↓
Este Banco Comunal se llama “ Cascada de Esperanza” está conformado por 29 emprendedores quienes se dedican a diferentes rubros, entre los cuales se encuentran; feriantes, mueblistas, venta de encintados, masajes, joyas, tejidos, venta de perfumes, venta de empanadas, servicios entre otros. Todos ellos pertenecientes a la ciudad de Valparaíso.
Edith, integrante del grupo del Banco Comunal, quien en la foto se encuentra sentada en primera fila, ocupando el primer lugar de derecha a izquierda, viste blue jeans, polera de color blanca y encima lleva puesto una chaqueta de color café claro, su cabello es largo de color castaño claro y lo usa suelto.
Ella se dedica a la venta de ropa usada, desde hace 4 meses. Se desempeña en sus labores en las ferias los días martes, miércoles, jueves, sábado y domingos desde las 08ºº hasta las 18ºº horas, cuando no puede trabajar en la feria por problemas de clima, vende chocolates, alfajores y cuchuflis de casa en casa.
La mercadería que va necesitando las compra en la ciudad de Viña del Mar lo que es ropa en bodegas y tiendas de ropa a bajo costo, por lo tanto conveniente económicamente.
Con el crédito comprará un carro para transportar su mercadería, fardos, toldo, colgadores, y algunos materiales para los chocolates.
Una de las metas de Edith es dejar su negocio bien presentable, para que su clientela vea su mercadería con más comodidad, que se vea diferente a como era al principio que no tenía mucha clientela.
Edith vive junto a sus 4 hijos de 22, 17, 12 y 9 años de edad, comenta que sola ha sacado a sus hijos adelante y los tiene a todos estudiando, para que puedan tener una vida diferente. Sus sueños a nivel familiar es poder terminar los detalles de su casa como el piso, los closet de las habitaciones de sus hijos.
Ella está muy contenta y agradecida de la oportunidad brindada por Fondo Esperanza, ya que le permitirá invertir en su negocio. Comenta que las capacitaciones han sido fundamentales para su negocio y también para su desarrollo personal, ya que ha aprendido a organizar y distribuir de mejor manera sus ingresos e inversiones.
Valparaíso está situado a 120 kilómetros al noroeste de Santiago. Es la capital regional y además sede del poder legislativo del país. Es el primer puerto de la nación y ofrece gran variedad de lugares hermosos y pintorescos, como por ejemplo la casa del poeta Pablo Neruda, ganador del Premio Nobel.

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
  • $2,587,775
    Funds lent in using Kiva
  • 476.8
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of Cascada De Esperanza Group's $4,725 loan helped a member to buy a car.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 31, 2012
Listed
Aug 20, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2012