The ladies of the committee are involved in different type of business such as running grocery stores, sales of clothing, chicken, fruits, honey, bijouterie (trinkets and ornaments) and lingerie among others. The money provided by this Kiva loan will be used to purchase merchandise in some members' cases and raw materials in others.
These ladies have one important thing in common: they all want to bring benefits to their families by working very hard and generating income. They all want to give their sons the opportunity to go to school or college.
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
(i) ingredients to cook traditional Paraguayan meals
(ii) fruits such as oranges, bananas, pineapples, apples, pears
(iii) cosmetics and clothing.