This communal bank was formed by several neighbors in the city of Santaní. It is called San Expedito and is in its 15th loan cycle. The group's 11 members are known in the neighborhood as being close, caring, and responsible, and all of them have an entrepreneurial spirit.
Adelaida, one of the members, sells many kinds of clothing. She is hardworking and says that, with the group's help, she has been able to grow and improve her business. She wants to keep expanding and investing in her business. So, she is applying for a loan to buy summer clothing to fill her customer orders.
El comité se formo con la union de varias vecinas de la ciudad de Santaní. El comité se denomina San Expedito están en el quinto Ciclo con 11 integrantes, es un grupo que se destaca en el barrio por ser muy unidas, solidarias y responsable, las integrantes poseen un gran espíritu emprendedor.
Una de estas mujeres es la Sra. Adelaida quien vende prendas de todo tipo. Ella es una persona muy trabajadora y comenta que con la ayuda de su grupo ha podido ir creciendo y mejorando mucho su negocio. Ella desea seguir creciendo e invirtiendo en su negocio y es por ello que solicita de este crédito, para poder invertirlo en la compra de prendas de verano, para seguir cumpliendo con los pedidos de sus clientes.
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.