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Virgen Del Carmen Group
In this Group: Magdona, Liz, Maria, Miya, Elena, Sonia, Ismelda, Maria, Elizabeth, Adelaida, Carmen, Lida, Gabriela, Ester, Noelia, Ramona*, Maribel*
* not pictured
The communal bank "Virgen del Carmen" is in its fifth loan cycle through the women's program. All of the members work and help each other get ahead. On the last poverty survey, two of the members showed they are below the poverty line.

One of the members is Maria who was at level one on the poverty survey. Maria says she works selling clothing and has been able to get ahead through her business. She works hard every day because she wants her family to have things she was unable to have.

Maria is requesting a loan to buy all kinds of clothing because she wants to continue investing in her business. This is the only way she has of prospering and helping her family.
View original language description ↓
El grupo llamado Virgen del Carmen está en su ciclo número Quinto del programa de comité de mujeres, donde todas trabajan y se ayudan por salir adelante. Dos de las miembros de este grupo en su última encuesta mostraron estar por debajo de la línea.
Una de las integrantes es la Sra. Maria, quien en su última encuesta mostró un nivel de pobreza dentro del nivel uno. Maria comenta que trabaja en la venta de ropa, y que por medio de ese esfuerzo quiere salir adelante. Lucha día a día de manera imparable ya que quiere que su familia tenga todo lo que ella no pudo tener.
Maria solicita de este crédito para poder invertirlo en la compra de prendas de todo tipo, ya que quiere poder seguir invirtiendo en su negocio, ya que esta es la única forma que tiene de salir adelante y ayudar a su familia.

Additional Information

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 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.

About Paraguay

  • $8,400
    Average annual income
  • 24
    View loans »
    Paraguay Loans Fundraising
  • $33,435,850
    Funds lent in using Kiva
  • 4,012.4
    Paraguay Guarani (PYG) = $1 USD

Success!! The loan was 100% repaid

A portion of Virgen Del Carmen Group's $4,000 loan helped a member to buy clothing to sell.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Feb 14, 2013
Mar 20, 2013
Currency Exchange Loss:
Jun 17, 2013