Luciano, 19, is one of the members. He is a farmer, and now he wants to sell gasoline for extra income so that he can help his family. He works hard and wants to succeed. He will use the loan to buy gasoline to sell for a small profit. The young people and their parents and supporters appear in the photo.
Uno de estos jóvenes es Luciano, quien tiene 19 años, cuenta que está trabajando en la agricultura ahora está queriendo empezar con la venta de nafta y así poder tener un ingreso extra para poder ayudar a su familia. El es un joven de muy trabajador, que quiere salir adelante.
Utilizará su crédito en la compra de nafta para la venta y así tener una pequeña ganancia.
En la foto del grupo aparecen los jóvenes con sus padres y ayudantes del grupo.
More information about this loan
This loan is designed for young people aged 15 to 25 whose families are living in poverty and who wish to start a new business or improve an existing business. As part of its Youth Entrepreneurship program, Fundación Paraguaya’s staff members offer mentorship, as well as training courses and workshops in finance and business administration. Borrowers also receive standard benefits like health coverage and life insurance. This type of loan is not offered by most other financial institutions in Paraguay. Young borrowers are often considered to be too risky because they lack prior credit history or business experience.
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