In a remote area of Carapegua called Quiindy, a group of women heard about The Committee of Entrepreneuring Women. They set up a meeting and shared their desire of changing their world for the better by working very hard. These hopeful words stimulated optimism among these women and they decided to form a Committee.
Among the businesses these women run are grocery stores and sales of chipas and crafts. Some of these women are weavers. They need the credit to buy the materials related to their businesses; for instance, threads, fabrics, crafts, and ingredients to prepare chipas 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