12 De Junio Group
One of the members who is at the red level is Ms. Nancy. She states that apart from her beauty salon, she also sells jewelry. She is a person who puts forth a lot of effort to get by, and for this reason she does all kinds of work in order to increase her profits in order to help her family. Her dream is to have a bigger beauty salon, and in this way she could also give jobs to other people who need them.
Ms. Nancy would like to use this loan to buy new supplies for her beauty salon, which would help in finalizing her business plan and increase profits.
Una de las integrantes es la Sra. Nancy quien se encuentra en el nivel rojo de su encuesta. Ella cuenta que a parte de su peluquería, se dedica a vender bijouterie. Ella es una persona que se esfuerzan mucho por salir adelante, es por eso que hace todo tipo de trabajo para poder crecer y mejorar sus ingresos para poder ayudar a su familia. Su sueño es poder tener una gran peluquería y de esa forma también poder dar trabajo a otras personas que lo necesiten.
La Sra. Nancy con este crédito desea comprar nuevos insumos para su peluquería, lo que le ayudará a tener a concretar su plan de negocio, el cual le ayudará a mejorar sus ingresos.
More information about this loan
This loan is part of the innovative “Poverty Stoplight” program developed by Fundación Paraguaya for women living in poverty. A “stoplight” measurement tool is used to help borrowers self-identify the type of poverty that affects them most (lack of income, dearth of financial opportunities, poor living conditions etc.). Borrowers rate 50 areas of their life as green (not poor), yellow (poor) or red (extremely poor). Together with their loan officer, they come up with a plan to resolve yellow and red indicators. Through this program, Fundación Paraguaya hopes to lift 9,000 women and their families out of poverty by 2017.
To learn more about this unique approach to eliminating poverty, you can read this article on Fundación Paraguaya’s website.
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