Comité 29 De Setiembre Group
The Committee “29 de setiembre” (September 29th) is formed of a group of 20 women who live in Limpio. A woman who wanted to become member of another Committee in Villa Elisa city could not make it because she was not living in the same town. As a result she contacted 19 other women living in the same town (Limpio) and convinced them to form another group. That is how “29 de septiembre”
(September 29th) was born. Today the Commitee is on its 8th loan cycle and they can request loans ranging from 100.000 to 1.600.000 guaranies (US$ 25 to 400) per member.
Among the businesses these women run are: despensas (grocery stores), sewing shops, sales of cheese, food, drinks, jewelry, cloth, fruits, vegetables, lingerie, and sheets. The money provided by the loan will be used for the purchase of lingerie, meat, vegetables, fruits, jewelry, candies, fabrics, thread, cloth and others.
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