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El Progreso Group
In this Group: Estrella , Victor, Manuel, Maria Eugenia, Maria Elena, Jessica, Margarita, Ana, Mercedes, Jorge, Sandra, Ingrid, Juana, Maria, Carmen, Alejandra, Francisca, Rosa
This communal bank is called “El Progreso Unido” (United Progress) and it has 18 entrepreneurs who carry out a variety of activities among which are barber shop, street market vendor, turnover sales, bread sales, sewing, home items sales and services, among others. All are from the city of Valparaíso.

Estrella is a communal bank member and in the photo is seated in the first row, second from right to left, wearing brown pants and shirt with a black jacket; her hair is brows and she wears it loose. She’s been selling fast-food for the last nine years. She tends to her stand from Monday through Friday from 11am until 6pm with help from her daughter; she sells cheese turnovers, Napolitana turnovers [filled with ricotta and tomato], shrimp with cheese, full meals, chicken and meat hamburgers, sandwiches, soft-drinks and sweets in general.

She buys the merchandise and ingredients as needed in supermarkets, bakeries, markets and from suppliers that provide quality products at low prices which is advantageous economically. She will use the loan to buy chicken, sausages, soft-drinks, bread, mayonnaise, oil, napkins, ham and cheese. One of Estrella’s goals is to buy a container she can install in her business because it comes complete with floor, dishwasher and furniture to provide good customer service.

Estrella lives with her daughter who helps her sell fast-food and also lives with her one-year-old granddaughter. Her dream is to be in good health to continue with her business where she so enjoys taking care of her customers. She’s very happy and grateful for the opportunity Fondo Esperanza has given her because it’s allowed her to invest in her business. She also feels very comfortable in the company of her fellow entrepreneurs in the communal bank because they share different activities and interests which has been a way for her to enjoy herself for a time. With respect to the training offered during the meetings, she’s learned how to better manage her business.

Valparaíso is located 120 kilometers northwest of Santiago. It’s the regional capital and seat of the national legislative branch of government. It’s the nation’s main port and it has a variety of beautiful, picturesque sites like for example Nobel Prize laureate Pablo Neruda’s house.
View original language description ↓
Este Banco Comunal se llama “El Progreso Unido” está conformado por 18 emprendedores quienes se dedican a diferentes rubros entre los cuales se encuentran; peluquería, feriantes, venta de empanadas, venta de pan amasado, costuras, venta de articulos para el hogar servicios entre otros. Todos ellos pertenecientes a la ciudad de Valparaíso.
Estrella, integrante del Banco Comunal, quien en la foto se encuentra sentada en primera fila, ocupando el segundo lugar de derecha a izquierda, viste de pantalón y polera de color café, encima lleva puesto una chaqueta de color negra, su cabello es de color castaño, lo usa suelto.
Ella se dedica al rubro de venta de comida rápida, desde hace 9 años. Se desempeña atendiendo en su local de lunes a viernes desde las 11ºº hasta las 18ºº horas junto con la ayuda de su hija, ofreciendo a su clientela empanadas de queso, napolitana, camarón queso, completos, hamburguesas de pollo y carne, sándwich, bebidas y dulces en general.
La mercadería e insumos que va necesitando los compra en supermercados, panaderías, mercados, proveedores que le ofrecen productos de calidad a bajo costo, por lo tanto conveniente económicamente.
Con el crédito comprará pollo, salchichas, bebidas, pan, mayonesa, aceite, servilletas, jamón y queso.
Una de las metas de Estrella es poder comprar un conteiner donde pueda instalar su negocio, ya que el conteiner viene completo con piso, lavaplatos, muebles, para una buena atención a su clientela.
Estrella vive junto a su hija, quien la ayuda en las ventas de comida rápida y su nieta de 1 año de edad. Sus sueños son tener una buena salud, para seguir con su rubro y poder seguir con su rubro que tanto le gusta, atender a su clientela.
Ella está muy contenta y agradecida de la oportunidad que le ha brindado Fono Esperanza, ya que le ha permitido invertir en su negocio.
Además se siente muy cómoda con la compañía de las demás emprendedoras del grupo del Banco Comunal, ya que comparten diferentes actividades e intereses, lo cual también le ha servido como un momento de distracción. Respecto a las capacitaciones impartidas en las reuniones, ha aprendido administrar su negocio de mejor manera.
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
  • $2,552,775
    Funds lent in using Kiva
  • 481.5
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of El Progreso Group's $3,450 loan helped a member to buy chicken, sausages, soft-drinks, bread, mayonnaise, oil, napkins, ham and cheese.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 15, 2012
Listed
Nov 27, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013