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Medalla Milagrosa Group
In this Group: Ramona, Ignacia, María, Elvira, Santa, Marisa, Rosa, Marisol, Liliana, Nilsa, Vicenta, Alicia, María, María, Angela, Marta, Daniela*
* not pictured
The group Medalla Milagrosa [Miraculous Medallion] is in its 9th cycle. They took part in a “poverty elimination” survey, and none of the members was found to live below the poverty line, thanks to their effort. They have come this far thanks to the work they have done.

Mrs. Rosa is a tailor and has a tailoring workshop. She is requesting a loan to buy threads and fabrics in order to offer better prices to her customers. In the last survey she took, she was found to be above the poverty line, but she feels anyhow enthusiastic investing the money from the loan she received through the group.

Rosa appreciates this opportunity because it will be useful, not only for her, but also for her family.
View original language description ↓
El grupo Medalla Milagrosa está en el 9º ciclo. Están haciendo la encuesta de eliminación de pobreza, donde desde este año ninguna integrante se encuentra por debajo de la línea de pobreza, ya que todas ellas se han esforzado y gracias al trabajo que han hecho están donde están.
La Sra. Rosa es modista y tiene un taller de costuras, el crédito lo solicita para la compra de hilos y telas para poder ofrecer mejores precios a sus clientas, en su última encuesta se encontraba fuera de la línea de la pobreza, pero de igual manera sigue muy entusiasmada invirtiendo el dinero del préstamo que realiza dentro del comité.
Agradece por la oportunidad que está recibiendo ya que le será de muy útil, no solo a ella, sino también 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

  • $4,555
    Average annual income
  • 47
    View loans »
    Paraguay Loans Fundraising
  • $28,281,075
    Funds lent in using Kiva
  • 4,012.4
    Paraguay Guarani (PYG) = $1 USD

Success!! The loan was 100% repaid

A portion of Medalla Milagrosa Group's $6,000 loan helped a member to buy threads and fabrics.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 15, 2013
Listed
Mar 18, 2013
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2013