A communal bank was formed in the San Roque neighborhood of the city of Caaguazú, and it is now in its 7th loan cycle. There are 18 members. It is a group of hard-working and responsible women who have a united spirit and much desire to excel.
One clear example of the group is Lucila, who is the mother of a family and feeds six children with her daily work of selling foodstuffs, fruits, and vegetables. She wants her neighbors to form a group. She is applying for the loan to buy fruits and vegetables and thus be able to restock.
En el Barrio San Roque de la Ciudad de Caaguazú, se formo un comité que actualmente están en el 7mo. Ciclo son 18 integrantes, es un grupo de señoras trabajadoras y responsables con un espíritu solidario con muchos deseos de superación.
Un ejemplo claro del grupo es Lucila quien es madre de familia que sustenta a 6 hijos con su trabajo diario de ventas de comestibles, frutas y verduras ella quiso que sus vecinas se unieran en grupo. Ella solicita el crédito para la compra de frutas y verduras y así poder surtirse.
About Fundación Paraguaya
Fundación 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.