The borrowers from the Sevilla group work in the buying and selling of fruit and vegetables, handicraft and food.
Veronica makes crafts like rocking chairs, sewing boxes, and things for mother's day and children's day. She sells on demand directly to people. She uses recycled materials for her products.
Veronica has another job so that she can have some stability, and she is going to use the loan to buy merchandise. In the future she wants to live on just the sale of her handicrafts, so that that will be her only source of income.
Veronica is a single mum and she lives with her parents. She is 37 years old. She has a 16 year old daughter who studies at university. She likes working with Fondo Esperanza because it lets her dream and think about establishing her business and not keep being dependent but have her own independent business. She also likes it because she has got to know people and been able to establish ties with the group.
Las prestatarios del grupo Sevilla trababan en la compra y venta de fruta y verdura, artesanía y comida. Veronica hace artesanía como las mecedoras, costureros, cosas para el día de la madre y del niño. Vende a pedido directamente a personas. Usa productos reciclados para sus productos. Veronica tiene otro trabajo para poder tener estabilidad y va a usar el préstamo para comprar mercadería. En el futuro ella quiere vivir solo de la venta de sus artesanías y que fuera su única fuente de ingreso. Veronica es mama soltera y vive con sus padres, tiene 37 años. Tiene una hija de 16 años que estudia en la universidad. Le gusta trabajar con Fondo Esperanza porque le permite soñar y pensar en establecer su negocio y no seguir siendo dependiente sino que un negocio propio e independiente. También porque ha conocido gente y ha podido establecer lazos con el grupo
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.